Prime Day has grown bigger than just Amazon
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Four years ago, Amazon held its first Prime Day, offering steep discounts and deals on its site. Since then, not only has Prime Day ballooned to a two-day affair, it has also gotten much bigger than Amazon.
Why it matters: Per new research from Adobe Analytics, Amazon's competitors will see revenue jump by 79% on Monday and Tuesday, this year's Prime Days. That's the strongest-ever projected bump.
The big picture: The halo effect of Prime Day highlights Amazon's influence on the entire retail market. What started as an Amazon invention has become a Black Friday for July, with Walmart and Target adding their own summer deal days.
- Prime Day has also become a moment for Amazon employees to stage protests. Last year, warehouse workers in Europe rallied against low wages. This year, Minnesota workers are planning a walkout.
Worth noting: The buying sprees that occur during these big sales are accompanied by a subsequent binge of returns, Adobe Analytics notes. Last year, Prime Day purchases saw 30% higher rates of return than goods bought on other days.
Go deeper ... An e-commerce pitfall: never-ending returns