A Foolish Take: Amazon's Rivals Still Can't Counter Prime Day
Amazon's (NASDAQ: AMZN) Prime Day, which started in 2015 as a sale commemorating the website's 20th anniversary, subsequently became an annual shopping holiday like Black Friday.
The first Prime Day blindsided Amazon's rivals, but Walmart (NYSE: WMT), Best Buy (NYSE: BBY), eBay (NASDAQ: EBAY), and others now launch "Anti-Prime Day" sales to counter the retail juggernaut. However, Edison Trends, which analyzed 60,000 transactions at Amazon and its rivals on July 15 and 16, recently reported that Amazon still accounted for 86.7% of all online spending during the Prime Day window.
Data source: Edison Trends. Chart by author.
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