Consumer interest in Prime Day is declining year over year
If you live on planet earth, you've heard that today and tomorrow are Amazon ($NASDAQ:AMZN) Prime Day (days?). The event is a massive money maker for Bezos and co — more than 100 million products sold during Prime Day 2018, and given the additional day, analysts expect Amazon to sell even more this year.
Despite the hype and extended time, however, social data indicates that consumers — at least those who use Facebook ($NASDAQ:FB) — are steadily losing interest in Prime Day.
According to Facebook's "talking about" count, which measures brand mentions on the social network, Amazon's best day when it came to mentions was on December 6, 2016. That was when it announced its Amazon Go checkout-free grocery stores.
But Prime Day is also a consistent attention-getter for the e-commerce giant since it started in 2015. In 2016, Amazon pulled 253,000 mentions of the brand in just 24 hours during Prime Day. In 2017, it did even better with nearly 300,000 mentions. But 2017 shows a worrying trend, at least if you're Amazon. Despite extending Prime Day to 36 hours, the company's "talking about" count on Facebook peaked at just 185,000.
Compared year over year, this could be a sign that consumers are growing tired of the promotions, the advertising, and the hype. Their attention is also likely thinned out. What was once a 24-hour flash sale is becoming a multi-day affair of marketing and promotion. Meanwhile, other merchants like Walmart, Target, and eBay are getting in on the action with shopping bonanzas of their own, which surely is spreading consumer interest to Amazon's competitors.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.