Amazon Prime Day has grown to be an important sales event in the eCommerce calendar. It’s easy to assume that Prime Day’s powerful earning potential is reserved for Amazon merchants. We’re here to challenge that assumption!
Read on to find out how your eCommerce store can also reap the rewards of Amazon Prime Day 2022.Amazon Prime Day 2022 At A Glance.
Amazon Prime Day 2022 will take place on July 12th and 13th. Sales for 2022 are expected to reach an all-time high of $12.52 billion, with the majority of it coming from American consumers. This, however, doesn’t mean international shoppers won’t make a considerable dent. Prime Day’s expansion into more foreign markets could cause non-US sales to shoot up by 17.3%.
When it comes to products, consumer electronics and apparel are always top sellers. It’s set to be the same story this year with consumer electronics and apparel bringing in $96.97 million and $63.99 million, respectively, in the US alone.
So, why should you, a non-Amazon merchant, care about Prime Day? A phenomenon known as the Amazon Prime Day halo effect contains the answers.
What Is The Amazon Prime Day Halo Effect and Why Does It Matter to Your Store?
What is the “halo effect”?
The term was first defined by psychologist Edward Thorndike in the 20th century. He stated that a halo effect is a form of cognitive bias where one aspect of a person, brand, or institution influences our overall perception. In other words, an expectation can be created from a single experience. It’s a glowing light that fills the whole room.
When we look at the halo effect through an eCommerce lens, it morphs into something that can be extremely beneficial for e-merchants.
The impact of Amazon Prime Day halo effect on non-Amazon merchants
A large, well-known online sales event, such as Prime Day, may cause shoppers to expect savings from all e-retailers. Thus, they’ll be actively on the hunt for the best deals they can find online. But don’t just take our word for it! Here’s some data-backed evidence that shows the power of the halo effect during Prime Day:
- A survey by Adobe reveals that 47% of consumers expect other retailers to have online deals
- In 2021, 20% of Prime Day shoppers bought items from other retailers
- During Prime Day 2021, worldwide daily average network revenue for retail and service brands increased by 36%
This means that Amazon Prime Day essentially primes consumers for shopping. It gets them ready to open their wallets for the best deals on the internet, not just on Amazon. As more markets get access to Prime Day savings, and as shoppers are set to spend more this year, you can expect the halo effect to have an even brighter radiance.
CiCi Nguyen - Content Specialist
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