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Amazon’s Prime Day first began in the year 2015, but has now become one of the showpiece days for the retail industry, about par with Black Friday and Cyber Monday. For Amazon alone, this is in fact a bigger day. The most recent one, brought in the highest traction till date, and has also brought in several learning for all. For one, there were more customers brought into Amazon’s fold this year, than ever before, as per business intelligence supplied by McKinsey. Echo and Kindle were the big winners among products. A number of Amazon’s private labels picked up business this year. Prime example among them include Pinzon, Good threads and Amazon Essentials. The Whole Foods Market (WFM) experienced a slight slump this year. Amazon’s partners such as Bose, San Disk and Dyson took full advantage to leverage the trend. Surprisingly, taking advantage of the overall trend, were also Amazon’s big rivals such as Costco, Target, Lowe’s and Best Buy. Brands need a specific digital marketing strategy to take full advantage of the Amazon Prime Day. Other retailers too must plump in. Amazon itself will only scale up, fully utilizing its traditional flywheel concept.

Source:https://www.mckinsey.com/industries/retail/our-insights/amazon-prime-day-what-the-real-lessons-are

Uploaded Date:20 July 2019

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