Prime Day is neat for Amazon, medium for a lot of other parties Others, however, just buy stuff because they see it and it’s there. Some consumers head into Prime Day with a clear idea of what they want and hunt for discounts on items they already intend to buy if not on that specific day, then eventually. “Scarcity marketing tactics, they’ve been a mainstay of the marketer’s toolkit for a very long time.” “These deals are structured in such a way that the products that are on deal won’t be there forever,” said Kelly Goldsmith, a behavioral scientist at Vanderbilt. People can be pushed to buy out of FOMO, and the belief they’ll lose something if they don’t buy now before inventory runs out or the deal ends. “People are very motivated by price, they’re very motivated by the treasure hunt of a deal, and when clever marketers do a good job of creating this perception that there’s some special reason for a deal, that triggers some cognitive bias that we have.”Īs Hilary George-Parkin laid out for Vox in 2019, sales and deals make consumers feel like they’re getting something special even if they’re not, like they’re getting free money. “Cultures have been inventing commercial holidays for a very long time,” said Jason Goldberg, chief commerce strategy officer at the advertising firm Publicis. It’s also a moment where it feels a bit more like it’s okay to buy just to buy, instead of for a specific purpose - and, maybe, to be a little selfish about it. It falls between tentpole shopping moments like the holidays and the back-to-school season. Prime Day occupies a space consumers don’t really have to fill but might just kind of want to. “I liked to describe it as our gift to Prime members so they could gift something to themselves.” He explained to me that while Black Friday and Cyber Monday, for example, were always about gifting to other people, Prime Day had a distinct appeal. Greg Greeley spent 18 years at Amazon, including running Prime, and oversaw the early Prime Days. Even Juneteenth has become awkwardly commercialized. For some reason, we’ve collectively decided Presidents’ Day is a time for mattress sales. All sorts of holidays, real and invented by retailers, have become about buying. Prime Day was inspired by Alibaba’s Singles Day, on November 11, in China. The idea of a holiday for buying yourself stuff is not unique to Amazon or something Amazon invented. I recognize people make things that are not soups in Instant Pots, but still. In 2021, Instant Pot was still among the biggest sellers on Prime Day. In 2015, 24,000 Instant Pots were sold on Prime Day. “And if they’re told they’re going to find great deals, they’ll go and look.”Įven if that means looking for a glorified crockpot during one of the hottest months of the year. “People everywhere, but Americans in particular, love sales they love deals,” said Sucharita Kodali, vice president and principal analyst at Forrester. Historically, Amazon says, “Jump,” as in “Shop.” Consumers across America and the world ask, “How high?” In 2022, Prime Day set a new record, with more than 300 million items purchased and, the company claims, customers saving $1.7 billion (how much they spent in total is not included in the company’s rundown, but other estimates put it at $12 billion). Today, Amazon Prime Day is one of the biggest shopping events of the year. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. It surpassed the number of items sold on Black Friday the year prior, the e-commerce giant’s biggest Black Friday yet at the time.īy submitting your email, you agree to our Terms and Privacy Notice. According to Amazon, consumers across nine countries bought over 34 million items on the first Prime Day, then just 24 hours. It was also a way to pump sales in what is normally an offseason for the company. It was a way to reward members of its Prime program, which started in 2005, and to bring consumers into its ecosystem of products and services. But Amazon has managed to help make it into a hot item to buy among consumers in mid-July each year thanks to Prime Day, its now 48-hour deal extravaganza.Īs the saying goes, if you build it, they will come, which in Amazon’s case means poof! inventing a shopping holiday out of thin air.Īmazon Prime Day first launched in 2015, initially as a way to celebrate Amazon’s 20th birthday (to the extent companies can have birthdays, I guess). The sweltering heat doesn’t exactly put people in the mood for a hearty stew. You might not think an Instant Pot would be at the top of your summer shopping list.
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