Amazon Prime Day projected to lose £2.63bn in sales

Amazon Prime Day took in record sales of £5.35bn over two days of discounting, back in 2019. The online sales counts towards a huge chunk of Amazon’s revenue and is exclusively held for Prime members in mid July.

However, disruptions to Amazon’s supply chain earlier this year forced the online retailer to push the sales event to October 13th-14th.

The LovetheSales.com data team has been tracking popular online searches surrounding Prime Day in the lead up to the event on Tuesday. Popular online searches associated with Prime Day are down -44% in the US & -54% in the rest of the world. With the drop in anticipation for the event, the LovetheSales.com data team projected a fall in sales of £2.63bn for Amazon, against Prime Day spending in 2019. 

Stuart McClure, co-founder of discount marketplace LovetheSales.com, said on the data, "Prime Day sales have been increasing year-on-year for the past five years, according to Amazon. However, the e-tail giant has spent billions ingraining Prime Day as a July event.

“The data shows a steep drop off in either a lack of awareness or a lack of appetite for 2020’s October Prime Day. And with Black Friday just around the corner, many shoppers might just give Prime Day a miss this year." 

UK retailers reaction to Prime Day

Some UK retailers have reacted to Amazon's big sales event by adding 1000's of products to the sales, a week before Prime Day.

The volume of online discounts in the UK has shot up by 23% in the last week alone, compared to October 2019 levels of discounting. 

Categories of product with the best offers in October:

1. Coffee machines 
2. Tablets 
3. Headphones 
4. Games consoles 
5. Digital cameras 

Retailers with the highest increase in volume of sale products for October:

1. Currys +156% YOY
2. Argos +105% YOY
3. AO.com +78% YOY

Most wanted products in the 2020 Prime Day sales based on consumer search:

1. Nintendo Switch

2. Amazon Echo Dot (3rd Gen)

3. Amazon Kindle Paperwhite

4. KitchenAid Artisan Stand Mixer

5. Amazon Fire 7 Kids Edition Tablet

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