Guess What? Brick-and-Mortar Traffic Actually Increased During Amazon Prime Day
Last week consumers had their laptops charged and their credit cards ready in anticipation of the annual shopping event Amazon Prime Day. With more than 150M prime members potentially searching for deals on October 13th and 14th, you might think that traffic at brick and mortar retailers was down on those days -- but surprisingly, it wasn’t!
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
Brick-and-Mortar Traffic Increased By 3%
The national in-store traffic data analyzed by Zenreach, the walk-through marketing company, found that from September 13 through October 12, the average percentage of normal traffic was at 44.8%. This increased 3% during the two Prime Days to 47.8%.
Here are two other interesting insights obtained from the data:
- Traffic patterns differed state-by-state. Retail traffic in Florida, for instance, followed the national trend of seeing an increase (+2.9%) in brick and mortar traffic during Prime Day. Alternatively, New York saw a significant decrease (-3.1%).
- Restaurant traffic, on the other hand, uniformly took a dip. Restaurants experienced a decrease of almost 2% in foot traffic on prime day compared to the previous month, nationally and on state levels.
Perhaps online and brick and mortar retailers don’t always have to compete. With national retail figures showing a 1.9% increase in September and brick and mortar traffic actually increasing on Prime Day, it bodes well for a successful coexistence.
What will be next for brick and mortar come Winter? Will coronavirus continue to help these merchants? Tell us your thoughts in the comments section.