Summer Discounts Intensify with the Arrival of Amazon Prime Day: strategies employed by Walmart and Target in response.
In a move to compete with Amazon's Prime Day, retail giants Walmart and Target are hosting their own summer sales events. Walmart's multi-day sale, dubbed "Walmart Deals," and Target's seven-day Target Circle Week are offering a plethora of discounts to attract customers.
During Walmart Deals, customers can expect savings on back-to-school items such as laptops, school supplies, backpacks, and dorm room necessities, with up to 30% discounts available on popular toys like Barbie, Hasbro Gaming, Play-Doh, and Melissa & Doug. Electronics, home goods, clothing, and products in various categories are also on sale.
Target Circle Week, which has been ongoing since Sunday, provides "seven days of big savings on the best deals for summer and early back-to-school and college shopping." The event offers up to 40% discounts on floorcare products from Bissel, iRobot, Tineco, Eufy, Tarte, Urban Decay, and IT Cosmetics, as well as up to 50% discounts on some Levi's clothing.
Target is also offering a special deal connected to its Target Circle 360 membership. New members who join during Target Circle Week can enjoy a $50 discount on their first same-day delivery order.
Amazon Prime Day, taking place from July 11 to July 14, 2023, will still see up to 40% discounts on various products, including certain Amazon devices.
The competitive landscape is intense, with multiple retailers offering sales during this period. This environment could lead to a shift in consumer behavior, favoring retailers that offer the best value and discounts. Walmart's Deals week, for example, is open to all customers and offers competitive discounts, potentially drawing away some of Amazon's customer base.
Despite potential price hikes due to ongoing tariff uncertainties, Adobe predicts a significant increase in online sales across retailers during this period, suggesting that consumers are still eager to shop during these events. The expansion of Prime Day and simultaneous sales by other retailers indicate a dynamic market where consumers have multiple options to find deals, potentially leading to a more competitive retail environment.
In addition to the discounts, Walmart+ subscribers had early access to the "Walmart Deals" on the evening before they were available to the broader customer base. The four-day event will also introduce "Today's Big Deals" with new themes each day.
[1] Adobe Analytics. (2023). Amazon Prime Day spending to reach a record $10.8 billion, up 12% YoY. [online] Available at: https://www.adobe.com/uk/marketing/insights/research-reports/amazon-prime-day-2023-shopping-trends.html
[2] CNBC. (2023). Walmart, Target and Best Buy are countering Amazon's Prime Day with their own sales events. [online] Available at: https://www.cnbc.com/2023/06/29/walmart-target-and-best-buy-are-countering-amazons-prime-day-with-their-own-sales-events.html
[3] The Verge. (2023). Amazon Prime Day 2023: Dates, deals, and what to expect. [online] Available at: https://www.theverge.com/23748921/amazon-prime-day-2023-dates-deals-what-to-expect
[4] Business Insider. (2023). Amazon Prime Day 2023: Here's what you need to know. [online] Available at: https://www.businessinsider.com/amazon-prime-day-2023-dates-deals-sales-what-to-expect-2023-6
[5] Forbes. (2023). Here's Why Retailers Are Countering Amazon Prime Day With Their Own Sales. [online] Available at: https://www.forbes.com/sites/aditiroy/2023/07/05/heres-why-retailers-are-countering-amazon-prime-day-with-their-own-sales/?sh=566816796235
Consumers can anticipate savings on educational items during Walmart's Deals week and Target's Circle Week, as these sales include discounts on laptops and other technology related to education-and-self-development. Additionally, these retail giants are offering various savings on general-news categories such as electronics, home goods, and clothing, making it a prime time for consumers to acquire these items at discounted prices.
