Amazon boasts record Prime Day sales as US shoppers spend $12.7 billion during the sale event
Amazons announced today that the first 24 hours of its Prime Day event marked the “biggest single day of sales in the company’s history” and that the two-day event was “the biggest Prime Day ever”. During those two days, US consumers spent $12.7 billion, according to data from Adobe Analytics. Adobe says this figure represents 6.1% year-over-year growth, setting a new record for a sales event. Amazon’s annual Prime Day event takes place on July 11 and 12 this year.
The online retail giant said shoppers bought more than 375 million items during the two-day sale event, up from 300 million items sold last year. The first day of Amazon’s two-day Prime Day event saw US sales increase nearly 6% year over year to $6.4 billion, according to Adobe. Consumers spent $6.3 billion on the second day of the Prime Day event, up 6.4% year over year.
Amazon shares rose as much as 2.1% in pre-market trading on Thursday.
Customers are spending more per order this year, with an average order size of $54.05, up from $52.26 during last year’s Prime Day event, according to Numerator data company.
Amazon says Prime members saved more this year than any other Prime Day event, as they saved more than $2.5 billion across its deals. Homeware, fashion and beauty were among the top categories during the sale event.
Adobe said sales were driven by several different categories on the second day of the sale event. Equipment saw a 52% jump when compared to the average daily sales in June. Sales of household appliances rose 27%, while electronics rose 15%. Other surging categories included apparel, which was up 24%, and office supplies, which were up 76%, driven in part by back-to-school shoppers.
Interestingly, Adobe’s data also found that consumers are becoming increasingly comfortable shopping on smaller screens, as smartphones drove 44.8% of sales on the second day of the sale event, up from 41.5% last year.
On both days, 6.5% of orders utilized Buy Now Pay Later (BNPL), driving $927 million in revenue, up 20% year over year. Adobe says BNPL usage continues to be driven by categories including apparel, furniture/home and electronics.
“Consumers have been feeling the effects of persistent inflation and an uncertain economic environment for months, and this has encouraged shoppers to adopt more flexible ways to manage their spending around Prime Day events,” said Vivek Pandya, analyst main Adobe Digital Insights. in a statement. “The revenue growth tied to Buy Now Pay Later is a preview of what we can expect in the months ahead, especially as the holiday shopping season approaches.”
Amazon held its first Prime Day event in 2015 and has held it every year since then. Sales events give companies the opportunity to attract new paying customers, as well as deepen their relationships with current customers. Amazon also uses sales events to promote its own devices, including its smart speakers and tablets.
Last year, Amazon held two Prime Day sales, the first taking place July 12-13 and the second on October 11-12. It’s unknown if Amazon is also planning to host two Prime Day events this year.
