The Prime Day Inventory Opportunity

The Amazon Prime (Two) Day extravaganza that started at midnight might make Jeff Bezos the Santa Claus of July — but the success of his four-year old shopping holiday speaks to more than just the web giant’s sheer power. Retailers have known forever that consumers like nothing more than a good sale — from President’s Day to Mother’s Day to Black Friday and every excuse in between. And when Amazon kicked off Prime Day, at first to celebrate its 20th anniversary, the rest of the industry jumped right in. This year, Prime Day could come at the perfect time for retailers carrying more inventory than they’d like after a weak spring, especially since many merchants have also been stocking warehouses to the ceilings, taking early shipments in hopes of avoiding the U.S.-China trade war. RetailMeNot predicted that 250 retailers would hold Prime Day-related promotions this year, a 30 percent increase. The strategic promotions company said 84 percent of retailers describe the week the sale is held as the most important time to drive online back-to-school sales. Antony Karabus, chief executive officer of HRC Retail Advisory, said retail inventories are “a little heavy” right now and that industrywide sales events are the right time to try

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/2LSniaM