Amazon has lost market share for the Prime Day shopping holiday it invented. Walmart is setting itself up for a bigger slice of those sales.
But while other retailers can try to get in on the shopping spirit, it'll be hard to beat Amazon at its own game.
According to Insider Intelligence analyst Andrew Lipsman, once a"shopping tent pole" like Prime Day is established, it's difficult to dislodge that in the minds of consumers. "Everyone is soaking up some of that incremental activity. But the ones who are best positioned to compete with Amazon are going to be your most well known big box retailers: Walmart, Target, and Best Buy," he said. Insider Intelligence is a sister company of Insider.In 2022, other retailers competing with Prime Day made a collective $4.9 billion in sales during their Prime-alternative shopping events, according to a report by Insider Intelligence. While Amazon eclipsed that, with $7.
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