'Prime Day,' -- A Made Up Holiday Just to Buy Stuff

BRITAIN-BUSINESS-RETAIL-AMAZON

Today is the third annual 'Prime Day,' which is a holiday created by Amazon.com specifically to get you to spend money in the middle of one of the weakest periods of the year for retail sales, News Radio 1200 WOAI reports.

Kelli Hollinger, who heads up Texas A&M's Center for Retailing Studies, says the amazing thing is that Amazon has pulled it off.

"We're before 'back to school,' we are not on Christmas holiday," she says.  "June and early July can be a major lull in shopping.

"She says at least 'Black Friday' on the day after Thanksgiving is the traditional start of the Christmas shopping season, so it's logical for retailers to make a big deal out of it.

But July 11th is not any sort of a big deal at all, and Hollinger says for Amazon to turn it into a major shopping day that rivals Black Friday is a testament to the power of its brand.

She says another way Amazon milks Prime Day is by putting a limit on the deals, to put pressure on consumers to make a snap purchase.

And, the bottom line is...we fall for it.

"The financial impact of this on Amazon's business is simply extraordinary," she said.  "The numbers they will do outpace most retailers in the entire United States."


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