Now that the Amazon Prime Days dust has settled and the data has trickled in, it's apparent that shoppers are pre-planning their purchases and not shopping on deal impulses as seen in previous years, despite overall year-over-year growth. With consumers becoming more strategic about when and where to buy, it’s never become more important for retailers to lock in holiday campaign strategies that drive more sales, traffic, and spend this season.
After digging into both Button’s proprietary data and industry Prime Day findings, it’s clear that media buying needs to shift in order to capture the attention and dollars of today’s savvy shoppers for retailers to hit Q4 earnings goals.
Here are 6 major signals retailers should note from Prime Day that show consumers are becoming more strategic about when and what they buy:
- Button retail partners that invested in flat media and offered incentives to shop — both on the days leading up to and following Prime Day — saw an average increase in Gross Merchandise Spend (GMS) by 67% year-over-year
- Button-powered big box merchants that increased media exposure after Prime Day experienced an increase in Average Order Value (AOV) by 10%
- Tinuiti discovered that brands seeking to capture high-intent shoppers ramped up spending by 30% on Amazon Ad Console
- Numerator found that due to inflation, consumers buying household items and goods sought products under $20
- TechCrunch reported that shoppers pre-planned their purchases and compared costs of their potential purchases at other retailers
- Numerator shared that consumers focused on deals for back to school and started to shop for holidays
Based on these Prime Day learnings, it’s imperative that retailers create urgency and an appetite to draw shoppers to them in order to increase their Q4 earnings. Here's where Button’s suite of Tap solutions can help. At Button, we think about holiday promotions early to lock in flat media exposure to boost your bottom line. Additionally, we collaborate with you to determine promotions and strategies that will most effectively drive sales outcomes to help you efficiently reach your goals.
Used by the world's largest brands and publishers, Button’s technology powers loyalty products to drive sales, grow app users, elevate average spend, and increase lifetime value. If Q4 preparedness is a priority for your organization, now is the perfect time to reach out and let our team of mobile commerce experts build a custom proposal to meet your unique needs and KPIs.