Through 2019, Black Friday and Cyber Monday have been touted as make-it-or-break-it days for brands in the retail space. If companies didn’t experience a revenue surge, it was a bad indicator for their holiday season as a whole, as well as their year ahead. But, just as COVID-19 has upended so many other customs in our lives, Black Friday, Cyber Monday, and the holiday season as a whole are expected to change drastically. And another major retail day affected by coronavirus? Amazon Prime Day. Historically taking place in July, Prime Day is now rumored to be happening sometime in October. In these unprecedented times and an upcoming holiday season that is the most unpredictable to date, retailers' presence on Amazon and the timing of Prime Day may be more significant than ever.
Black Friday, Cyber Monday, and Prime Day
First came Black Friday, marking the beginning of the holiday shopping season in the United States as the day after Thanksgiving. As brands competed for sales, Black Friday started earlier and earlier year after year, even starting to consume part of Thanksgiving itself. And then, of course, Cyber Monday saw a similar rise in popularity with the expansion of internet shopping. Brands have been building their marketing and revenue plans around these two days for decades. But then, along came Prime Day. What started in 2015 as an Amazon anniversary celebration and day to boost sales (without competing with other retailers like they do on Black Friday and Cyber Monday) soon became a major retail industry event. In a relatively short time frame, Prime Day grew to a point that major competitors have begun to respond with their own sales events around the same time. As Annie Palmer of CNBC said, it’s “no longer a day for people to purchase cheap items on Amazon,” and “has completely altered the retail calendar.” But with the delay of Prime Day 2020, what will its impact be amidst a global pandemic?
Is Prime Day the New Holiday Shopping Catalyst?
In the current global environment, it’s incredibly difficult to make revenue predictions with any comfortable degree of certainty. That said, with major brands and box stores changing their approach, Black Friday and Cyber Monday are certainly going to look and feel different. To make matters more complex are any number of factors, like COVID-affected supply chain problems, mail capacity strain, higher-than-normal unemployment, and the recently volatile stock markets. Because of these and other elements, experts predict that the holiday shopping season will start earlier and last longer. Cue the importance of Prime Day timing. If the rumors about an October date are true, Prime Day will occur anywhere between 61 and 85 days before Christmas, while Black Friday is only 28 days before Christmas in 2020. This year, Prime Day, should it fall in October, will likely be a key indicator of the holiday season ahead.
Why a Powerful Presence on Amazon Is More Important Than Ever for Retailers
Not only do we expect Prime Day to kickoff the holiday shopping season, but with consumers continuing to avoid in-person shopping and lean towards online purchases, the e-commerce giant is poised to be a go-to for all things holiday shopping, as they already have been throughout the pandemic. But with more brands on Amazon comes more competition, making it more important than ever to establish your presence and also stand out from the crowd. Whether or not your brand has Prime Day deals, consumers will be in buying mode and will likely use the day to continue building holiday shopping lists, so it’s important to give participants the ability to discover your products and save them for purchase at a later date.
How Retailers Can Stand Out on Amazon
With ever expanding opportunities for advertising and highlighted placements, the platform is continuing to enable marketers to grow both awareness and revenue on Amazon. It’s no longer only about getting your product on Amazon, but marketing it just as you would on other platforms. With the platform’s Campaign Landing Pages, brands have great opportunities to showcase their products with custom creative. From nut bars and water to clothing and shoes, brands around the globe are employing trusted marketing techniques to appeal to shoppers on Amazon. And, just like marketing on other platforms, stellar creative will go a long way in brand awareness and eventual sales.
We support every creative format including Amazon’s newest offerings and can help you get on your way for a successful holiday season. Interested in learning more? Let us know. And, if you’re already on Amazon and attending AdCon, we’ll be there to engage and answer any questions you may have!