The report's hypothesis was based on Amazon's Prime Day promise to offer deals across hundreds of categories, including televisions and voice-assisted devices. Conducted from July 6-12, 2017, the analysis used Ugam's proprietary big data technology to analyze deals across categories and compare them across retailers.
Key takeaways from Ugam's report included the following:
- The fast-growing "Home, Garden & Tools" category dominated the Prime Day 2017 deals, followed by the "Electronics, Computers & Office" category.
- To add to its rich repository of customer data, Amazon attempted to make Alexa a part of every Prime household in the US by offering the lowest prices ever on voice-assisted devices.
- On Prime Day, the price difference between the Echo (on Amazon) and Google Home (on Walmart, Target and Best Buy) was a mere 10%, compared to the regular 28% price difference. By dropping Echo's price by 50%, Amazon beat Google Home's discounted price on Prime Day.
- On Prime Day, Amazon didn't always have the lowest-priced televisions, as 40% of its best-selling televisions were priced higher than other retailers.
"By smartly marketing Prime Day, Amazon has succeeded in creating an annual shopping event during what was once a stagnant period for spending," says Mihir Kittur, co-founder and chief commercial officer at Ugam. "Retailers need to evaluate the market share shift caused by Prime Day to determine its impact on their businesses."
To download the full report, click here.
Ugam is a global leader in data and analytics that helps retailers, brands and market research firms transform big data into valuable insights. The company's unique managed services offering combines a proprietary big data technology platform with deep domain knowledge and analytics expertise to empower clients to make decisions that improve their business. For retailers, online marketplaces and brands, Ugam supports better merchandising, marketing and channel management decisions through the use of analytics. For market research firms and insight-based consultancies, Ugam offers a portfolio of solutions, including end-to-end research operations, technology transitioning support, and data warehousing, visualization and reporting that enables them to better serve their clients. Five of the top 10 U.S. retailers, four of the leading Australian retailers, many of the world's largest brands and online marketplaces, and 13 of the top 25 market research firms work with Ugam because of its ability to deliver high-quality insights with unmatched customer experience. Visit us at ugamsolutions.com, follow us on Twitter @ugam, and visit our LinkedIn page.
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