By Tonya Garcia, MarketWatch
Amazon.com Inc. might host Prime Day, but other big retailers are also reaping the benefits, according to data from Adobe Analytics.
Large retailers, classified as those with $1 billion-plus in annual revenue, experienced a 72% increase in online sales versus an average Tuesday. There was a 64% spike in sales versus an average Monday on the first day of the Prime event, up from 54% last year.
Even smaller sellers are getting a boost, with retailers that make less than $5 million in annual revenue seeing a 30% increase in Monday online sales.
“[T]he first day of Prime Day saw a substantial increase in online spending in the U.S., suggesting that Amazon is no longer the sole winner of the summer shopping holiday,” Adobe said.
The second day became more “buying focused,” Adobe said, with more visits to the site and bigger baskets.
Prime Day now accounts for the third and fourth times outside of the holiday shopping season where e-commerce sales exceeded $2 billion. The other two were Labor Day 2018 and the most recent Memorial Day holiday.
Amazon said Wednesday that this year’s two-day Prime Day shopping event was the biggest shopping event in the company’s history, surpassing Black Friday and Cyber Monday combined.
More than 175 million items were purchased, with the event becoming the largest-ever for Amazon devices, including the Echo Dot and Fire TV Stick with Alexa Voice Remote. Prime members also bought 100,000 lunch boxes, 100,000 laptops, 350,000 luxury beauty products, and more than one million toys.
Amazon says Prime members around the world saved more than $1 billion. Eighteen countries participated this year. And Amazon reports it signed up the most new Prime members ever on July 15 and nearly as many on July 16.
Amazon’s competition also benefitted, with buy-online-pickup-in-store a popular option, and niche retailers getting a bump.
“Due to its ‘halo effect,’ large retailers with major discounts online reaped the benefits of Prime Day, seeing 68% lift in revenue across the two days, while niche retailers also saw a significant increase in online sales at 28%,” said Jason Woosley, vice president of commerce product and platform at Adobe, in a statement. “This suggests that people are comparison shopping more than ever and will open their wallets to those who offer the best deals, regardless of the size of the retailer.”
The results show that taking cues from other retailers can pay off.
“Amazon competitors are not only copying Amazon’s massive 48 hours of hot deals, they are creating events of their own for consumers to look forward to. And it’s working,” said Captify, a search intelligence company, in a statement.
Captify found that searches for Best Buy Inc. /zigman2/quotes/205918291/composite BBY -0.91% , Walmart Inc. /zigman2/quotes/207374728/composite WMT -0.26% and eBay Inc. /zigman2/quotes/204653455/composite EBAY +1.35% all “significantly” increased in the past 24 hours, with Best Buy up 255%, Walmart up 130%, and eBay up 72%.
Amazon /zigman2/quotes/210331248/composite AMZN -0.76% said its own devices, the Fire TV Stick with Alexa Voice Remote and Echo Dot were among the top sellers from the first day. Also big were the Instant Pot DUO Plus 60, LifeStraw Personal Water Filter, and Crest 3D White Professional Effects Whitening Strips.
Amazon says it was the biggest 24-hour sales day in the company’s history. The Prime Day event took place Monday and Tuesday.
Amazon stock has gained 32.6% for the year to date, outpacing the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.88% , which is up 19.1% for the period.