Amazon Prime Day is killing Black Friday (AMZN)


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Amazon Prime Day is changing Americans’ holiday-shopping calendar.
According to one analysis, the deals on Prime Day are better than on Black Friday, the biggest shopping day of the year.
Macy’s, JCPenney, Lowe’s, and other retailers are taking part in the event by holding their own “Black Friday in July” sales.

Amazon is changing Americans’ holiday-shopping calendar by celebrating Black Friday-style sales in July with its highly hyped Prime Day.

This year marks Amazon’s fourth annual Prime Day, and it’s expected to be bigger than ever.

Prime Day deals will kick off on Monday and run for 36 hours — marking the longest Prime Day yet — and many other major retailers are taking part by offering their own massive sales events to counter Amazon.

JCPenney, for example, held its biggest two-day sale this week ahead of Prime Day, and will hold another three-day promotion, called “Cyber-in-July,” starting Monday.

Macy’s, meanwhile, is holding a “Black Friday in July” promotion this week offering 25% off most of the site, and Lowe’s is offering 10% off sitewide on Monday and Tuesday for new and existing MyLowe’s Customers. Lowe’s is also giving out free Google Home Mini devices to shoppers who spend more than $150 on Lowes.com.

In addition to running their own promotions, many retailers will price-match Amazon’s Prime Day deals. These retailers include Home Depot, Staples, Best Buy, and Bed Bath & Beyond.

Prime Day, in its fourth year, is still a long way from catching up to Black Friday in terms of total sales. Cowen & Co. estimates that Prime Day generated about $1 billion for Amazon last year, while e-commerce sales totaled $5.03 billion on Black Friday, according to Adobe.

But the deals are better than what shoppers might find on Black Friday, according to BestBlackFriday.com. The website analyzed Amazon’s deals on Black Friday and Prime Day in 2016 and found that 77% of Prime Day prices were better than comparable deals offered on Black Friday.

As Prime Day has increased in popularity, shoppers’ interest in Black Friday has waned.

Last year, about 174 million customers shopped in-store and online over the Thanksgiving holiday weekend, down from 226 million in 2011, according to the National Retail Federation.

SEE ALSO: Amazon is giving Prime members up to $30 in free cash for shopping at Whole Foods this week

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Source:: Business Insider

      

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