Discounts minimal, brands push coupons and bank offers during Prime Day 2024: mFilterIt report

Delhi: mFilterIt has revealed insights into the promotional strategies employed during Amazon Prime Day 2024, particularly in the appliances category. The analysis shows that traditional discounts took a back seat during this year's Prime Day. Large appliances saw minimal direct discounts of only 1-2%, while small appliances offered slightly more competitive discounts of 4-5%. Older models of small appliances saw deeper reductions of 10-12%. 

There was dominance of coupons and bank offers.

Brands aggressively pushed coupons and bank offers to unlock discounts, indicating a growing reliance on value-added incentives over outright price cuts. This strategy marks a departure from previous years' tactics and suggests a new direction in how brands approach major sales events.

In the realm of advertising, brands increased their sponsored ad budgets, often doubling or tripling their spending compared to regular business days. However, mFilterIt noted that the underlying advertising strategies remained largely unchanged. mFilterIt noted that brands may have missed an opportunity for innovation in this high-stakes environment.

“The Amazon Prime Day sales event of 2024 showcased a clear evolution in consumer expectations and brand tactics,” said Ankush Arora, eCommerce BU head at mFilterIt. “The dominance of coupons and bank offers over traditional discounts is a game-changer, and brands that fail to adapt will likely struggle to compete in future sales events.”