Sad! Not good! China hardest hit!
From Bloomberg:
Amazon.com Inc took a big gamble this year by expanding its annual Prime Day summer sale to four days from two, betting the extension would give shoppers more time to navigate the millions of deals on its sprawling web store.
The preliminary results are grim, raising the stakes for the event's remaining days.
Momentum Commerce, which manages online sales for 50 brands in a variety of product categories and price points, said its Amazon sales plunged 41% on Tuesday when compared with the start of Prime Day last year.
I remember the old times when Prime Day actually meant Prime day.
Now it's a week of stuff that's "discounted."
Online shopping is all about getting shoppers with two-second attention spans to make a purchase without thinking. NOW.
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This is why you get a billion popups every time you visit a site to check the price of something. Retailers need you to feel the pressure.
The prolonged event has encouraged shoppers to do more 'treasure hunting,' said John Shea, Momentum's founder and chief executive officer. Consumers are browsing and loading up shopping carts, but postponing pulling the trigger in case better deals emerge.
Pressure plus incentives equals customers making bad financial decisions. Lack of pressure plus "deals" that everyone ridicules equals customers keeping their money.
Amazon, for its part, denies these outrageous and scandalous accusations.
After Bloomberg published this story, Amazon emailed a statement saying: 'Typical of statements made by third-party consultancies that don't have access to the actual data, these numbers are highly inaccurate.' The company declined to say how the numbers are inaccurate.
I'm gonna go enjoy the sunshine. Someone message me if there's actually any good deals on cheap Chinese stuff on Amazon.
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