Survey: Prime Day rivals Black Friday, Cyber Monday

When it comes to deals, Amazon’s Prime Day is starting to give Black Friday and Cyber Monday a run for the money.

That’s according to a survey by Valassis in which 46% of respondents indicated that the Amazon event provides greater savings than Black Friday or Cyber Monday. Additionally, 68% of respondents, and 91% of Prime members specifically, have shopped on Prime Day previously, or will do so this year. Last year Prime Day rang up an estimated total sales of $4 billion – a 33% year-over-year increase, Valassis noted.

The survey also revealed that of those planning to shop on Prime Day, the top purchase areas are: electronics (39%), home goods/home furnishings (29%), beauty/apparel items (25%) and toys/games (22%).

Nearly half (45%) of the respondents compare prices on other retail sites on Prime Day. However, just 9% said they actually found better deals in July, presenting retailers an opportunity to amp up their summer deals. Many retailers have capitalized on the mid-summer savings mindset created by Prime Day with their own summertime offerings. More than 250 retailers are predicted to take part in Amazon’s fifth Prime Day, according to a recent survey from RetailMeNot.

Valassis found that that of those planning to shop on Prime Day this year, a third (33%) expect to save just $50 or less. Furthermore, 47% said they would be more encouraged to take advantage of Prime Day if even greater deals and savings opportunities were presented.

“Amazon Prime Day has become the Black Friday of summer, creating much anticipation over what deals will be offered, while also resulting in opportunities for other retailers to join this competitive, mid-summer shopping holiday,” said Carrie Parker, VP, marketing, Valassis. “The event goes beyond Amazon, representing marketing opportunities for brands to highlight new products and amplify discounts to consumers willing to spend on items for themselves or to accelerate their back-to-school or holiday shopping.”

In other findings by Valassis:
• When asked what media influences shoppers most to make Prime Day purchases, email, online ads and social media lead the way.

• Interestingly, 24% of respondents will turn to social media to influence their Prime Day plans, with this spiking among younger generations (44% for 18-24-year-olds and 37% for 25-34-year-olds).

• Despite Prime Day being a digital-only shopping event, the omnichannel appeal remains, with 15% saying direct mail influences them to make purchases.

• Of those planning to shop on Prime Day, about half (49%) say Prime Day encourages them to get a jumpstart on their holiday shopping.

• Another 16% of respondents will use the event to complete a portion of their back-to-school purchases. Furthermore, 43% feel that Prime Day helps save them money on these types of purchases.

• Households with children, in particular, are planning to leverage Prime Day for these reasons (36% for holiday and 28% for back-to-school items).

• Thirty percent say they are planning to buy something for themselves on Prime Day.