Last Thursday, Amazon proclaimed that its second Prime Day was its “biggest October shopping event ever.” The event, held October 8-10, is largely seen as the first major run-up to the holidays — and more brands seem to be participating in it than ever before.
New Glossy+ Research showcases just how important Amazon will be this holiday season. While it’s long been the most dominant e-commerce platform in the world, brands see it as an especially integral player this year.
According to a recent survey of brands and retailers, 74% said Amazon was going to be a “more important” sales channel during the 2024 holiday season. That’s an increase from 2023, when 48% said they saw Amazon as becoming “more important.”
The findings point to a few major changes. For one, more brands are seeing Amazon as table stakes. What’s more, with economic uncertainty and a looming election, more brands are turning to Amazon to try and grow sales.
Prestige skin care brand Borghese, for example, held its first October Prime Day sale this year. The company usually avoids discounting, but this year, it felt it necessary to focus on growing the Amazon sales channel.
“There’s so much uncertainty with the election coming up, and we’re cognizant that our consumer is looking to shop for the holidays ahead of time during Prime Day,” Christina Citrola, Borghese’s vice president of sales, marketing and e-commerce, recently told Modern Retail. “So, that was part of our reason to participate in Prime Day, to elevate the consumer experience and make their lives not just easier but more pleasurable.”
Beyond Amazon, brands and retailers are trying out other newer channels as well. For example, 76% of respondents said they saw social commerce as a more important sales channel this year, compared to 61% in 2023.
Overall, it shows that brands and retailers are trying to make sure all channels are helping grow holiday sales.
