Prime Day lifts sales for Amazon's large retail rivals
Amazon's midsummer bargain holiday is typically a record-breaking sales event for the e-commerce giant, but according to Adobe Analytics data, Amazon isn't the only retailer cashing in on the Prime Day spending spree.
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Adobe found that there was a substantial increase in online spending in the US on the first day of Prime Day, as Amazon's retail foes slashed prices and launched sale promotions to coincide with the sales event.
According to Adobe, large retailers with more than $1 billion in revenue saw a 64% increase in sales compared to an average Monday. Increased conversion rates attributed 27% of the lift while 7% of the lift was due to the bigger baskets.
More broadly, Adobe said Prime Day is now the third time outside of the holiday season to surpass $2 billion in e-commerce spending, as it did on Labor Day 2018 and Memorial Day 2019.
Also: Welcome to Amazon Prime Day 2019: Here's the strategy behind the e-commerce madness
In terms of strategy, Adobe said brands that crafted successful email campaigns saw a 50% lift in revenue. In comparison, those that lacked a good email strategy saw only a 17% lift. Overall, email campaigns represented a 7.6% higher share of the revenue.
Adobe also found that retailers with buy-online/pickup-in-store (BOPIS) options saw average order values increase 12%, from $115 to $131. Unsurprisingly, the best discounts yesterday were on electronics, with consumers scoring the biggest deals on smart devices, smartwatches, smart TVs, and other smart home items.
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