In advance of the fifth annual Prime Day, which has been expanded to run two days this year, retailers are preparing for the kickoff to the back-to-school season.
In 2015, only seven retailers took part in the launch of Amazon’s Prime Day. The back-to-school season starts early for retailers with Prime Day launching the shopping season. The first week in August also promises lots of deals, followed by Labor Day weekend, at which point retailers transition to focus on winter holidays.
This year, RetailMeNot predicts that more than 250 e-merchants will be partaking in the two day sale event, and “74 percent of retailers say they will invest more money in their back-to-school marketing in 2019,” according to a recent survey from RetailMeNot.
In addition, 84 percent of retailers say Prime week is the most important time for driving online sales during the entire back-to-school shopping season, evidence that the online event has evolved into a new holiday for the retail industry. Hundreds of retailers are offering deals as they look to compete in this two-day shopping event.
The survey of 200 senior marketing leaders and 1,000 consumers found that two-thirds (64 percent) of parents plan to shop at an average of 11 retailers and spend an average of $162, approximately 35 percent of their total back-to-school shopping. All on Amazon.
While the sales are great for revenue, it’s also important for e-merchants to be vigilant about fraud detection as illicit activity also spikes when sales go up. Amazon’s Prime Day also serves as a major target for account takeover attempts and other fraudulent transactions.