80 percent will shop on October Prime Day, but Amazon shares the spotlight

More than half of shoppers feel Amazon can be beaten on discounts, with others highlighting quality and delivery advantages to looking elsewhere

New research from Criteo, the commerce media company, reveals the upcoming Prime Day could be a significant boost for the retail sector with up to 80 percent of consumers across the US and Europe looking for deals on October 10^th and 11^th.

Despite Amazon’s effort to establish a new, exclusive moment in the calendar before Black Friday, the survey of 4,862 shoppers across the US, UK, France and Germany found 58 percent of respondents will be comparing Amazon’s deals with other retailers in order to find the best possible prices. In fact, 57 percent reported Amazon can be beaten on discounts on its own sales days.

Prices are far from the only area of contention. Many consumers responded that they would purchase from other retailers because they can find alternative products of better quality (33 percent) or simply better brand selection (21 percent), while others go elsewhere for faster delivery options (32 percent).

Quality increasingly trumps price

In light of the impact of inflation over the past year, 39 percent of respondents in the US and UK expressed sales days have become more of a focus for them. But very few anticipate these cost savings will result in any ‘in the moment’ purchases. 61 percent said higher prices have encouraged them to shop at more quality oriented stores and be more selective in what they buy.

It is clear consumers are looking to break with past shopping patterns to fulfil a desire for greater value. Retailers have a rare opportunity to get ahead of the ‘Golden Quarter’ by leaning into October Prime Day and making sure their brand campaigns are active throughout.

Nicole Kivel, Managing Director, Northern Europe at Criteo comments, “Prime Days are no longer exclusive, annual events. As inflationary pressures rise, consumers are seeking greater quality and more meaningful savings that they’re increasingly finding beyond Amazon. It’s important retailers focus on their natural advantages – both in the strength of their brands and their in-store offering – to better compete for sales. Highlighting relevant deals within product categories online and offering shoppers quicker delivery through in-store collection are great examples.

Prime Days are also a huge opportunity for retailers to showcase their potential to brand advertisers. While Amazon takes a good 60 percent (BCG) of the retail media market, these events are key moments for retailers to prove their eligibility as omnichannel advertising partners.”

Methodology

Criteo surveyed 4,862 consumers in September 2023. Respondents were split as follows: 1,175 (US), 1,216 (UK), 1,263 (France) and 1,208 (Germany).

Image courtesy of Unsplash. Photo credit: Christian Wiediger.