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Behind the Numbers: Reimagining Retail
Reimagining Retail: Amazon’s Second Prime Day Event and How It Has Informed Our Predictions for the Holiday Season | Oct 25, 2023
Oct 25, 2023
Sara Lebow, Jeremy Goldman, and Zak Stambor discuss Amazon's Prime Day sales, the trend of self-gifting during the holiday season, the rise of Chinese e-commerce disruptors, and predictions for the retail industry and the holiday season, including the challenges of allocating marketing budgets and the potential big winner in Walmart.
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Quick takeaways
- Amazon's second Prime Day event exceeded expectations, generating $5.9 billion in e-commerce sales and indicating the company's dominance over non-Amazon sales.
- Walmart is positioned to be a major winner this holiday season with a loyal customer base, low prices, and potential for increased engagement and sales through its app.
Deep dives
Amazon's second prime day event and its success
Amazon's second prime day event was a success, exceeding expectations and outpacing last year's results. The event generated $5.9 billion in e-commerce sales, with a significant increase compared to a random two-day period. Non-Amazon sales declined during this period, indicating Amazon's dominance. The event aimed to pull holiday spend forward and encouraged people to spend specifically with Amazon.
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