Joshua Dreller, Sr. Director, Content Marketing @ Skai
Joshua Dreller, Sr. Director, Content Marketing @ Skai
The hottest summer shopping event of the year is officially over and—once again—brands invested heavily in Retail Media advertising to ensure visibility of their products and boost sales.
The data is still settling in, but here are the numbers from Day 1 in terms of Retail Media advertising spending:
The majority of the Retail Media investments were on Amazon Advertising, but Walmart, Target, Instacart, and other online retailers also experienced an increase in ad spending on their platforms during the two-day event.
Marketers wisely planned for the “halo effect” shopping frenzy that Prime Day has historically generated which stimulates the entire retail market. Brands knew that consumers would be comparing prices and promotions off of Amazon.com and spread their bets around accordingly to take advantage of the opportunity.
Amazon’s press release about the event stated that “more than 250 million items were purchased by Prime members worldwide. Members shopped more and saved more than any other Prime Day, and some of the best-selling categories around the world included electronics and Amazon Devices—plus Prime members already started shopping back-to-school items, purchasing more than 600,000 backpacks, 1 million laptops, 1 million headphones, 240,000 notebooks, 40,000 calculators, and 220,000 Crayola products.”
Amazon also shared the following highlights:
The top-selling products for Prime Day 2021 shouldn’t have been a surprise. Skai’s market intelligence platform shows increased market activity for these items:
Brands should leverage market data before shopping events such as Prime Day to help predict what’s currently trending. Not only does it help marketers better to plan their promotional campaigns and invest in the best areas, but it can help companies stock up or even launch new products based on consumer preferences.
*note – data is taken from Skai advertisers spending in aggregate on Retail Media between June 1st and June 22nd, 2021
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