ECA has been talking to industry experts about this year’s Amazon Prime Day
Paul Coggins, CEO of Adludio comments:
“Another year, another Prime Day, and 2022 is likely to bring another bumper crop of sales. With total ad spend reaching almost $30 billion dollars for the tech giant, the impending recession will likely draw in even more investment, as marketers look to defend budgets against Amazon’s performance figures.
“However, Amazon’s average CTR is still pretty low, drawing in 0.41% across the top three ad types and categories – clothing, electronics and household. This compares unfavourably to the dramatically higher numbers that can be achieved on the Open Web.
“Indeed, it’s important for ecommerce and retail brands to consider not just raw sales, but building brand awareness too. While sales may be the remit of Amazon, ad investment into the Open Web is actually more efficient for targeting across the funnel.”
Maureen Noonan, Head of Industry, Retail and CPG, LiveRamp:
“This Prime Day, shoppers’ feeds are more curated than ever, as Amazon uses personalised targeting and first-party data to serve up products consumers are most likely to buy. Prime Day also demonstrates the value of investing in Amazon’s retail media network. This retailer-brand partnership benefits both the consumer, who gets more relevant recommendations, as well as sellers looking to engage shoppers with the right product at the right place at the right time.
“This collaboration of data also powers better insights and measurement in a time when retailers and brands must strategise around the global economic downturn and imminent loss of third-party cookies. Participating in events like Prime Day enables sellers to find new, unique audiences and shopper attributes to target over time. This is invaluable to many CPG brands that historically haven’t had access to first-party customer insights enjoyed by their retailer partners.”