Amazon Starts the Clock on Prime Day Hoopla

Amazon Starts the Clock on Prime Day Hoopla 620 300 C-Suite Network
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Amazon has set its third annual Prime Day promotion for July 11, promising its biggest-ever promotion with 30 hours of deals starting at 6:00 p.m. PT on July 10.

The company has expanded the event to China, India and Mexico, to reach a total of 13 international markets. Amazon will go head-to-head with some of its most important international rivals, including Chinese e-commerce player Alibaba, as overseas sales have become an increasingly important share of the e-commerce mix.

“Every part of our business is working to deliver more deals to a record number of shoppers,” said Greg Greeley, vice president, Amazon Prime.

Amazon is offering the lowest prices in 365 days on hundreds of thousands of deals, with millions of items in stock, according to spokesperson Julie Lawson.

Although the company has increased the number of deals from last year and increased the available inventory, it’s likely that some items will sell out during the promotion, she told the E-Commerce Times.

Prime Directive

The promotion is considered a critical part of Amazon’s strategy to grow its Prime membership, which has doubled over the past two years to 80 million members, according to Michael Levin, a partner at Consumer Intelligence Research Partners. Prime members spend an average of US$1,300 per year, compared with the average $700 that non-members spend.

“The merchandise bump, while nice, is barely material to their quarterly results,” Levin told the E-Commerce Times. “The Prime member bump is much more important, given how sticky Prime membership can be.”

Amazon last summer announced that its second annual Prime Day was the biggest single sales day ever, with sales up 60…