Descontos não compram lealdade: o que Amazon, Walmart e Alibaba realmente disputam

In a scenario of more cautious consumption and pressured margins, the global digital retail sector appears to be waging a price war. However, behind the generous coupons and mega sales events, what Amazon, Walmart, and Alibaba are competing for is not just consumer attention—it is their permanence. The 2025 edition of Prime Day projected sales of $23.8 billion over four days, while Walmart launched “Walmart Deals,” featuring intense promotions across both physical and digital channels. On the other side of the world, Alibaba alone invested $7 billion in coupons and e-commerce incentives. The question is: does this tactic really work?

The immediate answer lies in the numbers—and they are enticing. According to Adobe Digital Insights, this year's Prime Day recorded the highest average ticket in the historical series, even with fewer products on promotion. Meanwhile, Walmart, by betting on integrated offers with the Walmart+ membership and in-store pickup, saw physical store visits increase by 18% during the campaign week, according to data from Placer.ai. Alibaba, in turn, uses large-scale coupons as part of a strategy to reactivate dormant consumers and offset the slowdown in the Chinese market. However, short-term success does not guarantee lasting loyalty.

Consumer behavior studies suggest that deep discounts tend to attract “deal hunters,” but not necessarily loyal customers. According to Harvard Business Review, only 15% of consumers who are drawn in by price become repeat customers without relationship-building efforts or a superior experience. Analysts warn that the risk lies in creating vicious cycles of promotional dependency—especially when the brand's perceived value becomes solely about price.

“To address this, retailers have been combining promotional aggressiveness with structured loyalty strategies. Amazon, for example, does not rely solely on discounts, but on the extreme convenience of Prime, ultra-fast delivery, and its service ecosystem. Walmart has reinforced its perceived value through channel integration, a focus on essential assortment, and app-based incentives. Meanwhile, Alibaba is advancing in AI for personalized recommendations, gamified rewards, and more immersive shopping experiences, such as live commerce,” highlights Rebecca Fischer, Co-founder and Chief Strategy Officer (CSO) by Divibank.

Coupons are merely the visible tip of the competition for relevance and retention. The true strategy lies in what happens after the purchase: in customer service, re-engagement, ease of use, and the building of continuous value. In a saturated market, gaining a click is easy—what is difficult is convincing the consumer to return without a discount.