Prime Day is Amazon.com Inc.’s big day, so it’s no surprise it had the best prices on Tuesday, and the discounts were on par with its own holiday promotions.
Pricing analytics vendor Brand View analyzed seven of Amazon’s “Spotlight Deals” SKUs at 8:30 a.m. Eastern on Prime Day and found that all seven were cheaper on Amazon.com, No. 1 in the Internet Retailer 2017 Top 500, than on Target.com (No. 20), Walmart.com (No. 3) and BestBuy.com (No. 10).
For example, Amazon was selling the Ninja Kitchen Professional Blender With Single Serve Blending Cups for $69.99, while the same item was $99.99 on Walmart.com, $119.99 on Target.com and $139.99 on BestBuy.com.
Of the seven products Brand View analyzed, the Remington iLight Hair Removal System was the best bargain, as it came with a $175 discount on Amazon.com ($224.99), which was 43.8% cheaper than on Target.com or Walmart.com, where it sold for $399.99.
Amazon’s discounts were the same or deeper as its offers during other heavy promotional times of the year, such as Black Friday (the Friday after Thanksgiving) and Cyber Monday (the Monday after Thanksgiving), says Chris Elliott, insight analyst at Brand View.
Data from market research firm Market Track showed similar results. Market Track compared pricing on 3,200 listings that were labeled a deal for Prime Day, and compared the price on Prime Day 2017 to prices on Black Friday and Cyber Monday 2016 and found they were roughly the same.
Roughly half, 49.7%, of the 3,200 listings were priced lower on Prime Day than on Black Friday 2016 and 48.8% were priced lower on Cyber Monday. Across all of the products, the Prime Day prices, on average, were 0.1% higher than on Black Friday and 0.8% higher than on Cyber Monday.
Here’s an example of just how similar the Prime Day, Cyber Monday and Black Friday discounts were on Amazon: Brand View found Amazon had a Prime Day Deal for a Makita FD02W Lithium-Ion Cordless Driver-Drill Kit for $68.99, which it typically sells for $105-$118. On Black Friday 2016, however, shoppers could purchase the same drill from Amazon for just a penny more at $69.00, which also was the product’s price on Prime Day last year.
Consumers seemed satisfied with Amazon’s deals, as 52% of consumers said Prime Day offered the lowest prices of the year, according to a survey of more than 400 shoppers on Prime Day 2017 conducted by InfoScout and Market Track.
“Prime Day was a success in the eyes of consumers this year,” says Ryne Misso, director of marketing at Market Track. “A majority of shoppers had positive reviews of the selection of products offered, pricing, and their willingness to continue shopping Prime Day in the future.”Favorite