It’s Prime Day and Amazon is having a field day. But Amazon’s brand isn’t the only one getting a major lift.
According to data crunched by marketing technology company Amobee, other brands, including Best Buy are also getting a boost, grabbing the attention of digital audiences.
Since Amazon first launched Prime Day in 2015, the day-long sales event has grown comparable in size to the Black Friday and Cyber Monday holidays. As a result, competing retailers, including Best Buy, Walmart, Target, eBay and Macy’s have jumped on the Prime Day bandwagon and launched their own promotions.
This year, Best Buy launched a number of sales, including 40% off appliances through July 12 and offering the iPad Pro 9.7-inch for $US450 compared to the Amazon price of $US509. That has been effective in garnering the attention of the digital audience, with 43% of the digital engagement around the brand between July 10 and the morning of July 11 being related to Prime Day.
Amobee analyses more than 600,000 sites across mobile, video, web and social to determine digital content engagement, which is a measure of what people are seeing, reading, interacting and engaging with online.
Online chatter also featured Walmart and Target, even though the two brands had not announced any significant sales around Prime Day as of Tuesday morning. This indicates that the audience was looking for competing sales from those specific retailers, and that there would have been a significant interest in those promotions had they occurred, according to Amobee.
Among other retailers, eBay and Macy’s each had roughly 59% as much Prime Day-related digital content engagement as Best Buy. Ebay teamed up with Google to offer a Google Home and Chromecast Video bundle for 39% off, while Macy’s is offering 60% off on a wide range of items between July 10-11.
The brand lift comes at a critical time for Best Buy, with Amazon encroaching on its territory. Best Buy’s Geek Squad team has been helping the tech-adverse with their set ups and installations for years. But Amazon has quietly launched “Smart Home Consultations” as well as smart home product installations recently. Amazon has become an increasing threat for retailers more broadly, particularly since its acquisition of Whole Foods last month.
As for products, Amazon products are front and center on Prime Day this year, with five of the 10 products most associated with Prime Day being Amazon branded items. Amazon Echo reigned supreme, and was the product with the most Prime Day-related digital content engagement. In contrast, only three of the 10 products most associated to Prime Day in digital content engagement in 2016 were proprietary Amazon products.
“Amazon has become more skilled in shifting the focus of the event on their own product lines,” said Jonathan Cohen, principal brand analyst at Amobee. “For other brands trying to compete with Amazon and their end-to-end digital ecosystem, it’s not enough to just run competing promotions during specifics events, the emphasis needs to be on findings ways to get a more holistic view of the digital audience and their interests.”
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