Last Thursday, Amazon declared its second Prime Day the “biggest shopping event in October history.” The event, which runs from October 8th to 10th, is largely seen as the first major run-up to the holiday season, and it appears more brands are participating than ever before.
New Glossy+ Research shows just how important Amazon is this holiday season. It has long been the world’s most dominant e-commerce platform, but this year it is seen by brands as a particularly essential player.
In a recent survey of brands and retailers, 74% said Amazon will be a “more important” sales channel for the 2024 holiday season. This is up from 2023, when 48% said they think Amazon will become “more important.”
The findings point to some major changes. As an example, more and more brands are considering Amazon as a stakeholder. Additionally, with economic uncertainty and an upcoming election, more brands are turning to Amazon to drive sales.
For example, luxury skin care brand Borghese held its October Prime Day sale for the first time this year. The company typically avoids discounting, but this year it felt it needed to focus on expanding its Amazon sales channel.
Cristina Citrolla, vice president of sales, marketing and e-commerce at the Borghese Gallery, recently said, “With so much uncertainty leading up to the election, consumers are looking ahead to the holiday season in advance of Prime Day.” “We know people want to shop,” he said. he told Modern Retail. “Elevating the consumer experience and making their lives not only easier, but more enjoyable, was part of our reason for participating in Prime Day.”
Beyond Amazon, brands and retailers are also venturing into other new channels. For example, 76% of respondents said they believe social commerce will be a more important sales channel this year, compared to 61% in 2023.
Overall, we see brands and retailers working to drive holiday sales across all channels.
