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Amazon’s Prime Day brings record sales again as shoppers hunt for deals Amazon revealed that Prime Day 2024 was its largest ever, with record-breaking sales and more items sold during the two-day event than any previous Prime Day. The three weeks leading up to Prime Day saw a record number of new Prime members joining worldwide. During Prime Day, Prime members snapped up millions of deals across 35+ categories, with Rufus, Amazon’s new AI-powered shopping assistant, streamlining the process. Independent sellers, mainly small and medium-sized businesses, sold over 200 million items. Total online spending during the July 16-17 event hit $14.2 billion, up 11% from last year, according to Adobe Analytics. From January to June, U.S. consumers spent $503 billion online, a 7% increase from last year. E-commerce prices are down 4% year over year, highlighting a shift towards budget-conscious shopping rather than inflation-driven price hikes. Neil Saunders of GlobalData Retail noted that consumers are increasingly planning purchases around sales events like Prime Day, with less impulse buying. Amazon is adapting by focusing on essential items. The average order size for Prime Day increased slightly from $54 in 2023 to $58 in 2024, while the average household order size fell to $152. Shoppers focused on low-price items, with the average spend per item at $28, compared to $32 last year. This year’s Prime Day was marked by a preference for small indulgences and everyday items, reflecting more conscious spending. Consumers seem to be waiting for sales, impacting pre-event spending patterns. Independent merchants on Amazon saw significant success, selling over 200 million items during Prime Day, with many preparing in advance for the surge in sales. America loves Amazon. Prime Day truly is an American holiday at this point and there’s no stopping this freight train. #PrimeDay #AmazonPrime #RecordSales #Ecommerce #OnlineShopping #RetailTrends #ConsumerBehavior #AdobeAnalytics #GlobalDataRetail #Numerator #SalesEvent #SMBs #AI #ShoppingTrends

Is #Amazon losing its grip on Prime Day? 🤔 As Prime Day continues, a surprising trend emerges: Amazon's share of purchases during the event has decreased for the third year in a row. Here's what professionals in #retail and #ecommerce need to know: • Competitors are successfully diverting dollars with their own summer sales events • Tap into the potential of retail media, which is projected to be a $150bn market by 2026 • Focus on personal purchases and back-to-school items over early holiday shopping Our VP of Marketplaces, David Hutchinson, says, "Consumers are searching for practical products such as indoor and outdoor furniture, sporting equipment, and more – which leads us to predict consumers will focus on personal purchases over early holiday shopping." How are you adapting to the evolving e-commerce landscape? Read more 👇 https://lnkd.in/gRfUpb8s

Amazon’s Prime Day has once again showcased its significant influence on the U.S. economy. With shoppers spending approximately $7.2 billion online on the first day alone, the ripple effects on the retail landscape are profound. Major players like Walmart and Target have responded with competitive sales, creating a bustling shopping season that drives consumer spending during a typical slow time. This fierce competition and the strategic timing around back-to-school shopping have led to a notable 11.7% increase in total online sales on July 16 compared to previous months. According to Reuters, the average spend per order also saw an uptick, indicating robust consumer confidence and spending power. This phenomenon not only benefits retailers but also stimulates various sectors, from logistics to marketing. Prime Day’s model of offering deep discounts and early access deals pulls forward demand, setting new benchmarks for retail strategies and consumer expectations. As we see increased spending in categories like electronics, apparel, and toys, the overall economic boost is undeniable. In essence, events like Prime Day are not just about sales figures—they're pivotal in shaping economic trends, driving innovation in retail, and enhancing consumer engagement. https://lnkd.in/dBah27Nj #HalifaxWest #WinTogether #capitaladvisory #MandA #restructuring #operatingadvisory #Ecommerce #RetailTrends #AmazonPrimeDay #EconomicImpact #ConsumerSpending

Spring Sale or a Spring Cleaning Sale? Amazon's 'Big Spring Sale' is an event available to all not just for Prime members. While reasons vary, high inflation and increased competition may have the ecommerce giant worried. Prime Days aren't likely going away, but the Big Spring Sale may take away some their armor of exclusivity. Over the past few days, the inflation monster has started rearing its head over the mountains of the economy, and that's spooking many, none more so than retailers. Whether opening the discount flood gates to all will make a difference remains to be seen, but Amazon has had significant success with its members-only bonanzas. The spring sale will also serve as a test of the impact, if any, from a slew of low-cost retailers like Temu and Shein, which have been on an ad-spending blitz to attract American shoppers. It's easy to play the 'cheapest around' game until others join in. What will be interesting to watch is whether physical and other online retailers hop on the spring sale next week since they've done so for Prime Days https://cnb.cx/3TdIPM9 #amazon #ecommerce #onlineshopping #consumers #inflation #retail

Amazon's #PrimeDay is starting to have some serious #competition. According to PYMNTS, "...roughly 40% of consumers participated in Amazon Prime Day, and roughly 20% participated in Walmart+ Week." Yet, "Walmart+ Week #shoppers, on average, spent more than #Amazon Prime Day shoppers, primarily on #groceries and high-ticket items...Our analysts find that for Walmart to catch up all the way, it will need to grow the Walmart+ #subscriber base more than anything." #commerce #membership #retail #subscriptions #loyalty #sales #promotions https://lnkd.in/gireZ_9w

🎉 Amazon Prime Day Shatters Records with $14.2 Billion in Sales! 🛍️💥 Amazon's Prime Day 2024 has outdone itself yet again, with sales soaring to a record-breaking $14.2 billion over two days—an impressive 11% increase from last year. As consumers from across the globe rushed to snap up deals, mobile shopping surged by 18%, showcasing a growing trend in how we shop. This year's standout categories? Electronics, furniture, and back-to-school items, clearly reflect our renewed focus on upgrading and enhancing our living and learning spaces. Notably, 'buy now, pay later' options played a significant role, accounting for 7.6% of total sales. As we dive deeper into 2024, it's evident that events like Prime Day aren't just sales opportunities; they are reshaping shopping behaviors and preferences on a massive scale. How do you see this influencing consumer trends and business strategies moving forward? Discover more insights into the record-breaking sales during Amazon Prime Day 2024 here: https://lnkd.in/e7zA6Vuv #AmazonPrimeDay #EcommerceSuccess #DigitalShopping #RetailTrends #BusinessStrategy #ConsumerBehavior 📈🛒

Like many, I might have gone a bit overboard during Amazon's Prime Day sales, snagging more than I initially intended. But hey, who can resist a good deal, right? Curious to know what everyone else was adding to their carts? Thanks to Similarweb's real-time shopper data, you can now peek into the top products consumers were eyeing, compare prices pre-Prime Day versus 'deal' prices, check out category rankings, and much more. Explore the insights here:

Amazon plans ‘Big Spring Sale’ that’s not just for Prime members starting March 20 Amazon will host a spring sale next week with discounts on seasonal items, and this one is not restricted to Prime members. Amazon said Thursday that the event, which it’s calling the “Big Spring Sale,” will run for six days starting March 20, in North America. Unlike the Prime Day discount bonanza typically held in the summer, next week’s event will be open to shoppers who don’t pay for a Prime membership. The subscription program costs $139 per year, or $14.99 a month, in the U.S., and perks include free, speedy shipping; video streaming; and access to exclusive Prime Day deals. Spring fashion, fitness products, outdoor furniture, Amazon-branded devices and other “warm weather essentials” are among the categories that will be discounted, Amazon said. It’s the first time Amazon has held such an event in the first quarter. In recent years, Amazon has added shopping events, including a “Prime Big Deal Days” in the fall, a 48-hour “Pet Day” and a beauty-focused sale ahead of the holiday shopping season. The company is launching its spring event as shoppers, grappling with high inflation, remain hungry for discounts. Inflation has receded from its 40-year highs in mid-2022, but it remains above the Federal Reserve’s 2% goal. Consumer prices rose more than expected last month, increasing 3.2% in February from a year earlier, the U.S. Department of Labor said Tuesday. Amazon also faces rising competition from low-cost retailers Temu and Shein, which have been on an ad-spending blitz to attract American shoppers. Shein mostly offers deeply discounted apparel and accessories. Temu is akin to an online flea market and has seen its popularity boom due to its rock-bottom prices and a gamified shopping experience. IQ Management Consultancy #news #dailynews #dailynewsupdates #viral #viralnews #trending #trendingnews

Great to see our data in this Inc. Magazine article by Mattea Vecera. "According to a May 2024 survey by Amazon product content partner 1WorldSync, Prime Day deals play at least a "somewhat important" role in shaping the shopping habits of 83 percent of consumers throughout the year. Instead of waiting to make big purchases, consumers are planning weeks--sometimes months--ahead to snag the best deal now." https://lnkd.in/gFg4aKzQ