The halo effect: Prime Day typically creates a halo effect as it drives consumers to shop online—both on Amazon and at other retailers, many of which offer their own sales events.
- We expect other merchants’ online sales to jump 17.8% YoY to $5.22 billion during the two-day event. That would be 61.1% higher than the average ecommerce shopping day.
- One retailer that won’t be countering Prime Day is Walmart, a company spokesperson told CNBC. The retailer already hosted Walmart+ Weekend, its own Prime Day-like event for Walmart+ members, from June 2–5. And because it has excess inventory, much of its merchandise is already on sale.
- But Walmart’s event lagged in awareness compared with Prime Day: Only 33% of Walmart+ Weekend shoppers knew of the event before shopping, compared with 94% of Prime Day 2021 shoppers, per Numerator.
The big takeaway: While it may not have the luster it once did, Prime Day remains a massive sales event that will deliver solid third-quarter growth for Amazon and the many merchants that sell on its platform.
“Consumer spending remains solid, despite inflation,” said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence. “We expect inflation will actually drive more deal-seeking behavior and generate a bit more excitement about the event this year, which will also benefit from better timing than last year.”
Go further: Read our Prime Day report here.