It may seem like everybody is already talking about Amazon Prime Days, even though it's still a couple of weeks out.
The now famous promotional event serves as something of a hallmark event in the retail world. Many brands piggy back off of the excitement for the two day event, generating interest weeks ahead of time and hoping to cash in big on an uptick in online sales and activity.
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Amazon (AMZN) has run Prime Days for about 10 years now. The initial event began in 2015 as a way to celebrate the retailer's 10 year anniversary. It ran for just one day and wasn't nearly as big. Since then, however, about 200 million Prime members across the world now benefit from exclusive savings on everything from Apple products to pet supplies and each year seems to only get more profitable for the company.
Amazon generated a record $12.7 billion in sales from its July Prime Days event in 2023, according to Adobe. Amazon for its part claims it helped customers save $2.5 billion via its deals and promotions that day. It also says its home, fashion and beauty segments were its most successful, with the following products its top-sellers:
- Fire TV Stick
- Laneige Lip Glowy Balm
- Apple AirPods
- Bissell Little Green Portable Deep Cleaner
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Amazon Prime Days are highly anticipated
Amazon Prime Days have become such an extravaganza that the event typically features much more than deep discounts on common household items.
Now, Amazon hosts live streams with celebrities and influencers and even concerts to mark the annual summertime promotion. And many of its other large peers have begun to ring in their own savings celebrations for the warmer months; both Walmart and Target host summertime sales events, called Walmart+ Week and Target Circle Week respectively.
Both events are typically held before Amazon hosts Prime Days to capture maximum consumer excitement for savings – particularly for those who just can't wait. And getting ahead of Amazon can be good business.
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"This year [in 2023], curbside pickup was used in 20 percent of online orders for retailers who offer this service, up slightly from last year when curbside pick-up accounted for 19 percent of orders," Adobe's Analytics insights found of 2023's sales events. "Curbside pickup picked up steam during the pandemic and has remained a viable fulfillment option for consumers, especially for last-minute shopping needs around the holidays."
And since Amazon doesn't have much of a brick and mortar presence (at least in the way that traditional retailers like Target and Walmart do), it's a safe bet that these retail giants are cutting into some of Amazon's sales.
Amazon puts a popular product on sale
So what is Amazon to do?
While Amazon Prime Days 2024 won't happen officially until July 16-17, the retail giant discreetly put its popular Kindle Unlimited service on sale a full two weeks before the savings event kicks off, perhaps in an attempt to gin up some excitement before the action begins.
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For a limited time, Prime members will get access to a longer-than-typical three-month free trial of Kindle Unlimited, which grants them access to over a million e-books that can be downloaded to Kindle, iOS, Android, PC or Mac and read on the go.
"This extended Amazon Kindle Unlimited free trial is usually the best deal of the entire year for those interested in the service so it's well worth checking out if you're a Prime member ahead of Amazon Prime Day," Tech Radar writes.
Since most of Amazon's electronics go on sale during Prime Day, this is likely a warm up for its popular Kindle e-readers to see deep discounts in the July 16-17 event.
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