While clearly dominant on the commerce pillar, Amazon was just a blip on the media and advertising side of things—until recently. With the surge in Prime Video viewership along with its fast-growing advertising business, Amazon now seems better positioned to synchronize the three digital currencies. Amazon’s newfound position gives it yet another flywheel effect to fuel its growth going forward—and Prime Day is the perfect accelerant.

Prime Day is first and foremost about commerce, a day of huge discounts and attractive deals designed to reward Prime members and get them to spend. That’s why, during each of the past few years, Amazon has boasted of Prime Day generating record levels of new Prime memberships. We expect that Prime will reach 65.0 million households this year, surpassing 50% penetration for the first time.

And Prime membership is the fulcrum on which Amazon’s commerce flywheel spins. By financially—and psychologically—committing to Amazon, customers are more likely to turn to Amazon to fulfill their shopping needs. According to Consumer Intelligence Research Partners’ (CIRP) Q1 2019 report, US Prime members spend an average of $1,400 annually on Amazon vs. $600 for nonmembers. Prime members’ habitual shopping and buying behavior only adds more fuel to the fire.

Sourced through Scoop.it from: www.emarketer.com