Amazon announces fall Prime event

Author

Stephen Babcock
September 26, 2022

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The rumors were true: This morning, Amazon announced that it will hold a second deals event of the year in October. Prime Early Access Sale is set for Oct. 11-12. In terms of positioning for consumers, this event is oriented around early holiday deals. So it may not only create a second Prime Day-like event, but also move the start to the holiday shopping season even earlier. Read on for more takeaways from The Current.

Same-day delivery. App-based ordering. QR codes. In the grocery industry, these tactics are being adopted by many of the major retailers. But, as CNBC reports, they originated in China, where Alibaba founder Jack Ma coined the term New Retail, and opened 300 tech-powered Freshippo supermarkets in 2016. The focus is not only on growing ecommerce, but connecting online and offline experiences.

Recent earnings reports from the apparel subscription pioneers reveal a lot about the challenges facing retail right now. Three months ago, Stitch Fix was making layoffs and Rent the Runway saw demand surge amid a return to in-person activities. Now, Rent the Runway is making layoffs in what it calls a proactive move while Stitch Fix is working through inventory and seeking to test a loyalty program.

Get a product into a customer's hands, and their behavior will tell you a lot about where to go next. The Theragun was designed for below-the-shoulders use, but CEO Benjamin Nazarian told a Fast Company panel last week that he started to see that customers were using it on their face. So the company asked why, designed a version to fit the use and watched as the tool's popularity grew. Therabody didn't tell customers they were using the product wrong; they asked customers to show them how to use it.

It’s a busy week for ecommerce events, economic indicators and earnings. GS1 US is holding an innovation summit focused on the supply chain, while Natural Products Expo East sets up in Philadelphia. Plus, we’ll get the latest data on consumer confidence, consumer sentiment and the Fed’s preferred inflation index.

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