What's happening:
With the announcement of Amazon's Prime Days on October 8th and 9th, many consumers are excited, but some are beginning to wonder if the deals are as good as they seem. Shoppers have started to notice that some discounts are artificially created, with prices inflated prior to the event and then "discounted" back to their original levels. This growing awareness has led to a sense of mistrust, as more people feel that these deals are more about marketing hype than actual savings, causing some to approach Prime Day with increased caution.
What we found:
- Among those who have compared Amazon Prime Day deals to the price of the item leading up to the sale, 42% cited noticed the price was the same or higher during Prime Day.
- Among those who don’t compare prices or have seen lower prices on Prime Day, 71% report that they trust the deals they see on Prime Day reflect genuine savings. For those who notice the price discrepancies, that degree of trust lessens to 54%
- This increasing skepticism could have an impact on how Amazon’s second set of Prime Days in October pans out, with nearly half (48%) not planning on participating or still unsure if they plan to participate.
Why it matters:
The increasing consumer skepticism about Amazon Prime Day deals presents both a challenge and an opportunity for brands who wish to participate. As shoppers become more discerning, brands must prioritize authenticity and transparency in their promotional strategies. This is a chance to differentiate by providing genuine value, building trust, and crafting messaging that resonates with informed consumers.
As consumers tend to be more distrustful nowadays, it remains all the more crucial to commit to making consumers feel appreciated rather than manipulated. By focusing on authenticity and delivering real value, brands can strengthen relationships, foster loyalty, and turn Amazon Prime Days into an opportunity to build lasting trust.
Do you want to take the Pulse of your consumers? Our Insights team will partner with you to design a study to help you better understand your consumers and their problems, and how your brand can win at retail.
