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In this Research Report, our analysis uncovers a remarkable phenomenon: Amazon made a resounding impact despite adopting a relatively measured approach to discounts throughout the event.
Amazon's Prime Day 2023 in India achieved unprecedented milestones, registering a peak of 22,190 orders processed within a minute. An integral facet of Amazon's India Prime Day was the advantages bestowed upon Prime Members. Through collaboration with numerous sellers, brands, and banking partners, Prime members pocketed an astonishing savings of over Rs. 300 Crores. The two-day extravaganza, spanning July 15th to 16th, showcased robust sales and marked a noteworthy uptick in Prime membership, with 14% more members participating in the event than the previous year's Prime Day. Furthermore, over 45,000 new products made their debut, courtesy of more than 400 top Indian and global brands.
However, our analysis uncovers a remarkable phenomenon: Amazon made a resounding impact despite adopting a relatively measured approach to discounts throughout the event..
While Prime Day is a pivotal highlight in Amazon's portfolio, offering substantial advantages to partnering brands and sellers, it's equally intriguing to examine how Flipkart, its prominent competitor, responded to this monumental sale event. Consequently, we harnessed the capabilities of our proprietary data aggregation and analysis platform to meticulously scrutinize the pricing and discounts presented by Amazon and Flipkart across pivotal product categories such as Apparel, Home & Furniture, Consumer Electronics, and Health & Beauty, all within the context of Prime Day.:
Acknowledging that discounts are frequently offered on products across Amazon and various other eCommerce platforms, even outside of sale events, we embarked on a comprehensive exploration to unveil the genuine worth that Prime Day brings to shoppers. We emphasized discerning price reductions or supplementary discounts during the sale period when contrasted with the week prior. By adopting this methodology, our analysis underscores the authentic advantages the event confers upon shoppers relying on lowered prices during the sale.
In conducting our analysis, we meticulously monitored price fluctuations across a substantial assortment of products available on both Amazon and Flipkart during the Prime Day event and the preceding week leading up to it. Here are the particulars of our selected sample:
Our examination unveiled that Prime Day exhibited more substantial price reductions within the Health and Beauty category, presenting an average supplementary discount of 5.3%. By contrast, the Apparel category featured lower discounts at 4.90%, followed by the Home & Furniture category with a modest 2.50% during the sale event.
The Consumer Electronics category, renowned for offering appealing prices during sale occasions, exhibited a more conservative price reduction of merely 0.9%. This can be attributed to the category already being characterized by a substantial average discount, averaging around 44.8% in the week leading up to Prime Day.
Further insight is provided as we delve into an in-depth exploration of each category, meticulously dissecting the distribution of price reductions across pivotal subcategories on Amazon. Furthermore, we shed light on how Flipkart responded to Amazon's pricing maneuvers during the event.
Navigating the challenges of escalated costs and dwindling profit margins in the apparel sector, Amazon had previously established a substantial average discount of 36.5% even before Prime Day. As the event unfolded, Amazon's apparel deals demonstrated restraint, culminating in an average price reduction of approximately 4.9%, covering 43.7% of its product assortment.
Contrarily, Flipkart opted for a more conservative approach, offering an additional discount of merely 1.8% across 17.7% of its Apparel selection. While Flipkart did endeavor to rival Amazon within this category, the extent of this competitive action was comparatively lower and extended to a narrower range of products in contrast to Amazon's approach.
Among the entire spectrum of apparel subcategories subjected to our analysis, Men’s Shoes (11.6%), Women’s Shoes (9.5%), and Men’s Shirts (8.7%) emerged as the frontrunners in terms of experiencing the most substantial price reductions. Conversely, Men’s and Women’s Swimwear (2.3%), Women’s Innerwear (2.9%), and Women’s Athleisure (3.3%) displayed more restrained markdowns.
Diverse determinants likely played a role in shaping pricing strategies across distinct subcategories, encompassing considerations such as inventory levels, shifts in demand trends, and the pursuit of a delicate equilibrium between competitive offers and maintaining sustainable profit margins. These decisions underscore Amazon's endeavor to cater to a consumer demographic particularly attuned to pricing nuances.
Encompassing the entirety of apparel subcategories, standout brands that instituted the most substantial markdowns included Sweet Dreams (65.5%), Ketch (55.1%), Clarks (44.9%), and Kibo (38.4%). Additionally, Reebok and Adidas adopted notable additional discounts, presenting 26.3% and 24.9% reductions, respectively.
However, price reduction is just one facet of enticing shoppers for brands. Equally imperative is their ability to secure prominent visibility and effortless discoverability within Amazon's search outcomes. This augmentation substantially enhances their capacity to draw heightened clicks and conversions. In our scrutiny, we meticulously tracked brands' Share of Search across various frequently utilized search terms concurrent with their introduced discounts. Share of Search signifies the proportion of a brand's offerings within the top 20 search results for a particular query.
Our data underscores the dynamic shifts in discoverability experienced by various brands during Prime Day. Notably, certain brands made substantial headway in augmenting their Share of Search. Instances include Van Heusen - Women’s Athleisure - 30%, Campus - Men’s Shoes - 50%, and Rovar’s - Women’s Swimwear - 30%, among others, all registering remarkable enhancements in their Share of Search during Prime Day.
Conversely, certain brands, such as Sparkx (Men’s Shoes), Xyxx (Men’s Innerwear), WomanLikeU (Women’s Swimwear), and Adidas (Women’s Shoes), encountered notable declines ranging from 40-80% in their Share of Search during the event. This downward trend will likely have unfavorable repercussions on their sales volumes.
The Home & Furniture sector encountered hurdles from diminished demand and excess inventory over the preceding year. Consequently, even before Prime Day, Amazon's Home & Furniture category displayed significant discounts, averaging a remarkable 45.3%. Subsequently, during Amazon Prime Day, the supplementary discounts exhibited a modest average of 2.5%, encompassing 33.3% of its product selection.
Flipkart chose not to contend with Amazon in this category, presenting an inconsequential additional discount of 0.8% over 14.70% of its assortment.
Among the array of Home & Furniture subcategories subjected to our scrutiny, Luggage (5.1%), Beds (3.9%), and Coffee Tables (3.1%) emerged as front-runners in terms of substantial price reductions. In contrast, Rugs (0.6%), Bookcases (1.5%), and Washer/Dryers (1.2%) featured more modest markdowns. This distinction underscores the variance in consumer preferences across different regions, with rugs considered more discretionary in India, whereas they hold a staple status in the US.
Brand loyalty isn't a prevailing trait among shoppers in the Home & Furniture category. Consequently, brands frequently turn to alluring pricing strategies to capture shopper attention. During this Prime Day event, the brands that presented the most substantial markdowns within this category encompass It Luggage (40%), Couch Culture (25.8%), Story@Home (23.3%), and Verage (21.2%).
Regarding the Share of Search aspect, Wudparadise observed the most substantial advancement (50%) in Entertainment Units. Solimo, an Amazon Brand, made noteworthy strides, securing a 40% gain in Beds, 30% in Sofas, and 10% in Coffee Tables within their respective categories. Conversely, About Space encountered a decline of -60% in Bookcases, while Anika experienced a -40% decrease in Entertainment Units. Sleepyhead faced a similar -40% dip in Mattresses' discoverability within their respective categories during the event.
To establish a competitive advantage during sales events such as Prime Day, brands must diligently track their Share of Search, particularly in categories like Home & Furniture, where brand loyalty tends to be minimal.
During this Prime Day event, an impressive statistic emerged: five smartphones were sold every second. Notably, 70% of this heightened demand emanated from Tier 2 & 3 cities within India. This surge in demand was predominantly driven by the popularity of foldable smartphones and recently introduced models, including Motorola Razr 40 Series, OnePlus Nord 3 5G, iQOO Neo 7 Pro 5G, Samsung Galaxy M34 5G, and Realme Narzo 60 Series. The occasion also witnessed the unveiling of a multitude of novel products from renowned brands such as OnePlus, Realme Narzo, iQOO, Samsung, boAt, Sony, Motorola, and others, all contributing to the dynamic landscape of the Indian market.
Despite the surge in demand and the introduction of new products, Amazon's price reductions within the Consumer Electronics category were relatively modest, averaging only 0.9% across 27% of its product assortment. Similar to our observations in the Home & Furniture category, this phenomenon can be attributed to the prevalent high average discount of 44.8% evident in the week leading up to Prime Day. For Consumer Electronics, shoppers aren't always required to wait for sale events like Prime Day to encounter the most appealing deals, as numerous attractive offers are available even in the days preceding the event.
Across various subcategories, Earbuds (2.4%), Wireless Headphones (1.6%), and TVs (1.3%) garnered the most significant price reductions, a reflection of their popularity and considerable sales volumes during sale events. Conversely, Smartwatches (0.6%), Drones (0.4%), and Smartphones (0.3%) featured more restrained markdowns.
When considering price reductions across various brands, noteworthy contenders include Da Capo (52.6%), Muzen (33.3%), JLab (23.6%), and Earboss (21.5%), all of which presented the most appealing deals within the Consumer Electronics category. Of particular interest, Amazon Basics also provided moderately enticing deals (12.2%), serving as a testament to Amazon's strategic emphasis on promoting in-house brands.
While the Consumer Electronics category boasts a devoted shopper base, the significance of generic search keywords such as "earbuds," "headphones," and "tablets" cannot be understated in terms of drawing high-intent shoppers and elevating brand visibility. Consequently, when examining the Share of Search aspect, it is evident that Noise excelled in Smartwatches, Samsung gained ground in Smartphones and Tablets, and HP showcased notable progress in Laptops, each making substantial strides in enhancing their discoverability on Amazon during the Prime Day event.
During the sale, Xiaomi (Laptops), Ekko (Earbuds), OnePlus (Smartphones), and Apple (Tablets) faced competition from other brands and experienced a decline in their performance.
During Prime Day in India, the Health & Beauty category was the most successful segment regarding supplementary discounts. Our analysis indicates that Amazon extended an average additional discount of 5.3% across nearly half of its products (46.8%) within this category. In direct competition with Amazon, Flipkart presented a comparable offering, providing 5.5% additional discounts across 35.8% of its assortment in the same category.
Across all the subcategories subject to our analysis, Sunscreen (7.5%), Make-Up (7.2%), Shampoo (6.6%), and Moisturizer (6.4%) were the top performers in terms of experiencing substantial price reductions on Amazon. In contrast, everyday essentials like Toothpaste (3.0%) and Beardcare (3.6%) saw more conservative markdowns.
Throughout the sale event, brands such as Sadhev (43.4%), Clear (41.1%), Teenilicious (40.4%), and Coal Clean Beauty (38.4%) stood out for presenting the most appealing deals.
When considering notable improvements in Share of Search for various brands, L’Oreal Paris (Shampoo & Conditioner), Oracura (Electric Toothbrushes) and The Formularx (Moisturizer). Additionally, Perfora (Toothpastes) and Ustraa (Beardcare) also achieved significant gains, surpassing the 10% mark in their respective Share of Search during the sale event.
Surprisingly, other well-known brands such as Tresemme in Conditioners and Swiss Beauty in Make-Up experienced diminished visibility among the top search results for their respective subcategories.
Amazon's shrewd pricing tactics during Prime Day exemplifies the art of balancing profitability, inventory management, and market rivalry. Competitive pricing insights allow retailers to steer through complex decisions, optimize strategies, and flourish in pivotal occasions. Prime Day is a pivotal gateway to enhancing sales, enticing fresh clientele, and fostering loyalty. In light of this, vigilantly monitoring competitor prices comprehensively becomes paramount for crafting impactful pricing strategies. Don't hesitate to connect with us today for deeper insights into excelling amidst sale events! And if you're curious about Amazon's pricing and discounts during Prime Day 2023 in the US, explore our detailed analysis here. You can also contact us for all your requirements related to You can also reach us for all your mobile app scraping, instant data scraper and web scraping service
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