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July 14, 2023

Prime Day isn't Priming?

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What's going on? Is Prime Day, the annual shopping holiday created by Amazon, losing its luster? In this week's latest retail and e-commerce news, we take a look at Prime Day's performance and what this means for the e-commerce industry.

For the first time during Prime Day, Amazon has collaborated with travel website Priceline.
Apparently, retailers are not eager to participate in the competition during Prime Day.
Evo is getting ready to launch a customer service chatbot.
Here's how online retailers are maintaining their profit margins.

The Amazon Corner

An Unbeatable Combo: Amazon and Priceline Come Together for Prime Day!

Photo Credit: Justin Sullivan/Staff via Getty Images | Retail Dive

For the first time ever! Amazon has partnered with Priceline for the first time ever to offer discounts on travel packages and flights during Prime Day. Retail spending has decreased, yet American consumers are still spending money on travel experiences. In an effort to fill hotel rooms, travel companies are partnering with Amazon, which is expanding its services to increase memberships. During Amazon's upcoming event on July 11-12, U.S. members will have access to 48 hours of deals, including an extra 20% discount on Priceline's Hotel Express deals, which already offer a 60% discount on hotels.

Check out the full story here...

Prime Not Priming: Retailers Care Less and Less About Amazon's Shopping Holiday

Are Prime Days over? Compared to previous years, other retailers are not offering as many competitive sales during Amazon's Prime Days. This year, July 4 promotions were more popular.

A majority of online retailers did not feel pressured by Amazon's annual sales event to offer site-wide sales. In fact, according to a panel of 100 retailers from the 2023 Digital Commerce 360 Top 1000, more retailers offered 4th of July promotions at the end of June than participated in Amazon's Prime Days on Tuesday.

Streamline CS: Evo is Launching Their Own ChatGPT

Welcome to the era of automated customer support! Evo, the ski and sporting goods brand is planning to launch a customer service chatbot for the holiday season. The chatbot will aim to improve the customer service experience.

In its busy winter season, Evo usually hires 40 more customer service employees, bringing the total to 80 agents. However, the upcoming launch of a chatbot may decrease this number by about a quarter. The chatbot will initially handle basic customer service inquiries and may expand to handle more complex inquiries after the holiday season.

Adapting to Thrive: Here's How Online Retailers Are Keeping Their Profits Intact

The changing e-commerce landscape. During the pandemic, e-commerce revenue increased significantly, benefiting various online retailers. However, due to competition, such as the need to provide free shipping, profit margins are being reduced. The following explains some ways in which online retailers are adjusting in order to maintain healthy profits.

Ann Clark saw a 16% increase in conversion rates and a 58% increase in revenue after implementing a free shipping offer for purchases over $25, compared to not having the offer.
CPO Commerce increases marketing efforts for a product when a major competitor begins stocking it to avoid having unsold inventory if the competitor decides to run a sale.
Building expertise in a specific category enhances brand loyalty.

Get the full scope of the story here...

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On this 93rd episode of The E-Comm Show, Nina will share how Fernish, a rental and subscription-based furniture company, has leveraged a unique pocket in the furniture industry to scale from a startup to a big player. Tune in as Andrew and Nina discuss startup culture, marketing to different audiences, logistics, and more!

Watch the full episode below, or visit TheEcommShow.com for more.

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