While merchants are taking a breather from summer sale events like Amazon Prime Day, the holiday season is already speeding up to them. Notably, these summer events have already claimed an estimated 15% of overall 2024 holiday season sales, siphoning consumer attention away from the biggest shopping events of the year – Black Friday and Cyber Monday. How can eCommerce merchants effectively gain customer attention and boost sales during the holiday season 2024?
The changing dynamics of the retail giants are impacting consumer behavior as seen in the aftermath of the summer sale 2024 events, extending far beyond July and August. This blog post will help online merchants analyze and understand the impact of summer sale 2024 events by retail giants like Amazon, TikTok, and Walmart. Furthermore, it will also provide insights on what you can expect from the upcoming holiday season to shape your eCommerce strategies for success.
Holiday Season 2024: Setting Up the Stage
Forecasting Predictions Based on Holiday Season 2023
As predicted by eMarketer, the US eCommerce holiday sales are predicted to reach $1.353 trillion. Additionally, over 16% of US shoppers have already started shopping for the upcoming holiday season, kickstarting the spending earlier compared to 2023. With the advent of the sales events in October, eCommerce merchants should lay the groundwork early for the holiday season to ensure they don’t get left behind.
Hence, the first step to ensure your holiday season is a success is to recognize patterns in the summer sales 2024 events by leading marketplaces.
Amazon Prime Day 2024
A Record-Breaking Event for Amazon Sellers
Amazon’s Prime Day 2024 witnessed unprecedented success. Why ‘unprecedented’? We’ll discuss this in the later section of the blog. (A hint: eCommerce industry critics claim that other retailers attempted to get their share of success by challenging Prime Day).
The summer Prime Day event drove a record $14.2 billion in sales, by featuring deep discounts and steal deals ensuring boosted customer engagement and sales. Sales data reports from Jungle Scout showcased how these curated offers not only gained traction during but also post Prime Day. This notoriously famous event was held on the 16th and 17th of July, observing higher AOV (average order values) and increased participation from third-party sellers.
CedCommerce, a leading multichannel enabler helped its merchants process over 40K orders on Amazon during the Prime Day 2024 event. Click here to check out how this happens: