Major retailers enjoyed a big spike in sales on Amazon Prime Day.
Retailers with roughly $1 billion in annual revenue saw online sales rise by 54 percent versus a typical Tuesday, according to an Adobe Analytics report cited by CNBC.
Target reported that online sales and traffic on its website Tuesday were the busiest so far this year. Prime Day began at 3 p.m. on Monday.
Target reported its busiest day this year for online traffic and sales
JCPenny, Macy’s, Target and Walmart are among the retailers that have made a push to boost online sales this year. Some — Bed Bath & Beyond, Best Buy, Home Depot and Staples among them — pledged to match Amazon.com’s deals for the day. This was the fourth annual Amazon Prime Day.
Adobe predicts that these retailers will continue to see increased sales, based on what happened last year: Retailers whose sales increased by 10 percent in the first half of 2017 realized an increase roughly double that of the typical retailer during the Thanksgiving weekend, the report said.
But though the larger retailers benefited from Prime Day, those with less than $5 million in annual revenue saw online sales fall by 18 percent during the event, indicating that scale is required to reap the rewards from the event.
By Edmund Mander
Director, Editor-In-Chief/SCT
