According to Salesforce Commerce Cloud’s Shopping Index, which analyzes data from more than 500 million online shoppers quarterly, digital commerce grew 44% year-over-year on Prime Day for all retailers (Tuesday, July 12, 2016 versus Tuesday, July 11, 2017). To put that in perspective, this is exactly two times the growth that North American retailers experienced in Q2 of this year. And that increase, 22%, isn’t too shabby to begin with.
This growth compares to between 50%-60% reported by other sources for Amazon. Retailers have definitely drafted off of the demand that Amazon has created, and this manufactured holiday has essentially become a standard (in North America at least).
North American retailers are trying to beat Amazon at its own game
Most retailers offered some sort of online deal. Discount rate was up 28% from the day prior to Prime Day, making it the biggest jump we’ve seen over the course of the week (from 18% to 23%). And free shipping, a key linchpin in Amazon’s loyalty program, was seen for 77% of orders shipped by other retailers, up a whopping 17% from the day before.
Christmas appears in the dog days of summer
Retailers saw a 34% higher conversion than the day prior to Prime Day, and 31% higher than the year before. Remember, Prime Day was on a different day each of the last two years. This data shows that increased discounts and marketing not only drove consumers to browse, but to also buy.
Amazon is clearly crushing it with Prime Day — including increasing sales, membership, and overall awareness of this day — but it’s not a day that retailers should be afraid of. Rising tide, as our Shopping Index data proves, lifts all boats.