Global Leader In Data And Analytics Offers Findings On Top Products, Categories And Competitors
The report’s hypothesis was based on Amazon’s Prime Day promise to offer deals across hundreds of categories, including televisions and voice-assisted devices. Conducted from July 6-12, 2017, the analysis used Ugam’s proprietary big data technology to analyze deals across categories and compare them across retailers.
Key takeaways from Ugam’s report included the following:
– The fast-growing “Home, Garden & Tools” category dominated the Prime Day 2017 deals, followed by the “Electronics, Computers & Office” category.
– To add to its rich repository of customer data, Amazon attempted to make Alexa a part of every Prime household in the US by offering the lowest prices ever on voice-assisted devices.
– On Prime Day, the price difference between the Echo (on Amazon) and Google Home (on Walmart, Target and Best Buy) was a mere 10%, compared to the regular 28% price difference. By dropping Echo’s price by 50%, Amazon beat Google Home’s discounted price on Prime Day.
– On Prime Day, Amazon didn’t always have the lowest-priced televisions, as 40% of its best-selling televisions were priced higher than other retailers.
“By smartly marketing Prime Day, Amazon has succeeded in creating an annual shopping event during what was once a stagnant period for spending,” says Mihir Kittur, co-founder and chief commercial officer at Ugam. “Retailers need to evaluate the market share shift caused by Prime Day to determine its impact on their businesses.”