Dive Brief:
Dive Insight:
Earnest Analytics’ report suggests Amazon’s Prime Day has a lead over other retailers’ promotional events, with stronger loyalty and participation. When it comes to average spend per customer, though, Wayfair had the lead with $281, followed by Walmart online ($101), Amazon ($89), Target ($76) and TikTok Shop ($53).
The research builds on other data that suggests more than just Amazon benefited from the sales period. During Amazon's Prime Day sale on July 16 and July 17, shoppers spent a record $14.2 billion online across various e-commerce sites, an 11% increase year over year, according to Adobe Analytics data.
TikTok Shop earlier this summer unveiled its Prime Day competitor, Deals For You Days. The July sales event offered discounted products from brands like L’Oréal Paris, NYX Professional Makeup and Maybelline New York. The social media platform saw online sales spike 81% compared to January during its sales week, taking market share away from Chinese competitors Shein and Temu, according to Earnest.
A previous report from Earnest found that the TikTok Shop event comprised 37% of Chinese e-commerce sales among U.S. shoppers during the week of July 11.