Amazon Prime Day has now become a staple of the British retailing calendar. But does all this attention on the retailing giant mean that others are losing out? Maru/edr look at Agile Survey Platform real-time results from the day to explore the wider impact on retail.
Since it made its way from across the pond three years ago, Amazon Prime Day has grown in popularity in the UK. Results released from the retailer suggest an increase in sales by as much as 60 per cent compared to last year.
Maru’edr’s on-the-day Agile research platform revealed that event awareness is at an all-time high – 80 per cent of the consumers surveyed said that they had heard of Amazon Prime Day. Prime day trade peaked at 538,650 transactions an hour. Us Brits bought 45,000 pairs of headphones, 52,000 new kitchen items, 62,000 skincare products and 66,000 makeup items.
But are all these purchases at the expense of the British retailer?
The Halo effect
Perhaps surprising for some, our survey results revealed that all the talk surrounding Amazon Prime Day is having a positive impact on retailers.
While the sale day generates some impressive trading figures for Amazon, 72 per cent of the UK population have not purchased on Prime Day before yet over half (53 per cent) went online during the day to browse with other retailers with 11 per cent of those making a purchase. It all leads us to believe that despite the hype, advertising and awareness focused solely on Amazon, the rest of the British retail industry is benefitting too.
Making the most the opportunity
Luckily for retailers, Amazon Prime Day sits nicely within the British retail calendar and ties in with the traditional Summer sales period – it means that retailers do not need to invest in new strategies or realign calendars.
Instead, however, they need to focus on their digital experience. Given that the day is driven by the biggest online retailer, it’s no surprise that Amazon Prime Day is a completely digital retail revolution. Amazon is working hard to encourage people online during a 24 hour period and it is up to retailers to ensure that their digital customer experience is the very best it can be if they’re going to make the most of the opportunity.
Having analysed the digital retail market since 1999, we know what good looks like at Maru/edr.
Our exclusive research last year revealed that exceptional digital experiences are driven by four key factors – product, service, ease and fulfilment. Perform well in all four of these areas and on-the-day satisfaction more than doubles. But fail to perform in any area, and satisfaction drops to below 50 per cent.
And our years of experience have told us that satisfaction is important – it’s a key indicator of repeat visits and loyalty both of which have a fundamental impact on the bottom line.
It means that measuring the online experience is more important than ever before – by measuring the things that matter the most, retailers can make better, more informed action and improvements and not only make their digital customer experience the very best it can be but make the most of the opportunities out there.
Damian Miller is head of retail at Maru/edr, working with clients to understand how the changing market impacts on customer experience and the brand offer. To see how our agile survey platform can provide instant answers for you connect on LinkedIn or email him at firstname.lastname@example.org.