But why is Amazon Prime Day in July?
To commemorate its 20th anniversary in July 2015, Amazon (AMZN) introduced Prime Day as a way to replicate the Black Friday frenzy while offering even more deals than the traditional November shopping event. With the tagline “Step Aside Black Friday – Meet Prime Day,” Amazon (AMZN) aimed to cater to its dedicated fanbase. The inaugural Prime Day garnered impressive sales of $900 million, as reported by Coresight Research. Encouraged by this success, Amazon (AMZN) decided to bring back the event the following year, expanding it to two days and experiencing even greater sales of approximately $1.5 billion, according to Coresight’s estimation.Nowadays, Bank of America predicts that Prime Day has the potential to generate around $12 billion in revenue, marking a 12% increase compared to the previous year. While Prime Day itself accounts for just 1% to 2% of Amazon’s annual sales, industry analysts emphasize its importance in cultivating loyalty among Prime subscribers and attracting new customers to the program.
The event serves as a valuable opportunity for Amazon to entice new members to join Amazon Prime, the company’s $139 annual free-shipping program, while also strengthening relationships with existing customers through various Amazon products and businesses, including Whole Foods. Historically, the majority of Prime Day offerings have been exclusive to Prime members, further incentivizing subscription to the service.
FAQs:
Q1:When is Amazon Prime Day 2023?
Mark your calendars for July 11-12, 2023, as Amazon Prime Day returns with a bang. Kicking off at 3:00 am EDT on July 11 and concluding at midnight on July 12, this highly anticipated annual event is exclusively accessible to Amazon Prime members.
Q2:What is Amazon Prime Day?
Amazon Prime Day presents a golden opportunity to snag incredible deals across diverse categories such as electronics, home goods, clothing, and beyond. If you haven’t yet subscribed to Amazon Prime, worry not! You can still partake in the Prime Day extravaganza by signing up for a complimentary 30-day trial, granting you access to all the enticing deals and discounts.
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