Prime Day has raised shoppers' expectations when it comes to online shopping events, requiring retailers who wish to compete to plan ahead and optimize Amazon listings and advertising campaigns, while taking advantage of emerging marketplaces.

This year, traditional retailers responded with offers and partnerships with Chinese discount marketplace Temu that may entice customers away from Amazon's platform.

Growth

Though Amazon products were the primary drivers of Prime Day sales, other retailers also saw significant sales increases thanks to the event. Whole Foods Market saw its sales soar by over $1.5 billion; organic strawberries were their top- selling item and small and medium-sized sellers on eBay saw their revenues surge by more than five million.

Adobe digital insight analysts reported that back-to-school shopping was a significant driver this year, with spending on items like backpacks, school supplies and dorm essentials rising 216% when compared to daily averages in June. Spending on electronics, mattresses, home office furniture and apparel also experienced growth.

Though Amazon Prime Day remains slow-growing, this annual event remains an effective marketing tool, cultivating greater customer loyalty and helping fuel ancillary services. Furthermore, Prime Day helps Amazon better understand consumer buying behavior so ads can be placed at just the right time and place; providing insight that feeds into Omni channel initiatives for both Amazon and its retail partners.

Strategies

Amazon.co.uk/MYTV Prime Day provides an outstanding opportunity for online retailers to acquire new customers, by using data analysis to identify patterns and trends in customer behavior and create targeted marketing efforts and promotional strategies. Once Prime Day concludes, however, its growth can continue by using insights and tactics to optimize customer experience and operations year-round.

Consumers no longer shy away from shopping during promotional sales events, often drawn in by perceived value of discounted items and fear-of-missing-out (FOMO) that encourages them to act quickly before the offer or product inventory run out.

Though discounts can be tempting, retailers must remember the importance of maintaining profit margins during Prime Day and not undercutting competitors' pricing levels. Brands can use Feedback Whiz Profits and SmartRepricer to gain insights on product profitability while simultaneously setting prices based on real- time market conditions - this way they can maximize profit without alienating