The NPD Group has released its latest holiday report which highlights how Black Friday and Prime Days are head-to-head in terms of consumer preference for their holiday shopping.
New insights from NPD’s annual holiday purchase intentions study reveal almost as many consumers feel they will get better deals during Prime Days than on Black Friday, but the traditional start to holiday shopping still edges it out.
Before the dates of Amazon’s 2020 Prime Days were officially announced, 57 percent of consumers told The NPD Group they plan to do at least some, if not all, of their holiday shopping during the online event.
July 15, one of 2019’s Prime Days, was the third biggest online shopping day of last year, behind Cyber Monday and Black Friday, according to NPD Checkout information. However, this year’s infusion of Prime Days into the holiday season may move it up a notch. Just over a third of consumers think they will get the best deals early in the season, but even more are still putting their money on the deals that will come over the traditional holiday promotion period of Black Friday through Cyber Monday.
Looking at specific days, 18 percent of consumers identified Prime Day as the time period they feel they will get the best deals possible. The Amazon day came in just behind Black Friday at 20 percent of consumers and Cyber Monday came in third.
“The pandemic has changed retail, and the delayed timing of Amazon’s Prime Days will be making its mark on the 2020 holiday season,” says Marshal Cohen, chief industry advisor, retail, The NPD Group. “Consumers are already entering this earlier-than-ever start to the holiday season with a different shopping mindset and this is retail’s chance to emphasize the notion that early is better when making holiday purchases – when it comes to inventory, shipping and deals.”
Further contributing to the impact of Prime Days on both holiday spending and retail overall is the growing list of retailers planning their own early holiday promotions this month. According to NPD, 63 percent pf consumers say they are very likely to compare Prime Day promotions with other retailer promotions before making a purchase. While there have been some competing promotions during July Prime Days events of the past, it is now sharing the stage with broader efforts to kickstart the expanded holiday season.
Another differentiator in the 2020 event is Amazon’s lead-up focus on supporting small business. This has the potential of drawing some consumer attention with 17 percent of consumers indicating they plan to shop locally-owned retailers this holiday season.