Amazon Files 'AMAZON INNOVATE' Trademark Amid Prime Day Success and Growing Competition
Aug/14/2024
On August 12, Amazon Technologies filed a trademark application for "AMAZON INNOVATE," aimed at hosting trade shows and conferences focused on retail business tools and technology. This aligns with Amazon's broader strategy to solidify its dominance in the retail sector. Concurrently, a report by Earnest Analytics highlights Amazon Prime Day's strong performance, leading in customer loyalty and participation, though Wayfair outpaced Amazon in average customer spend at $281. Despite Amazon's success, other retailers also capitalized on the shopping frenzy, with a record $14.2 billion spent online during Prime Day, marking an 11% year-over-year increase. TikTok Shop, a newcomer to the competitive landscape, unveiled its own July sales event, Deals For You Days, which saw an 81% surge in online sales, capturing market share from rivals like Shein and Temu. The visualization below provides detailed information about the new “AMAZON INNOVATE” trademark application.
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