Amazon announced today that the first 24 hours of its Prime Day event marked the “single largest sales day in company history” and that the two-day event was the “biggest Prime Day ever.” Across both days, consumers in the U.S. spent $12.7 billon, according to Adobe Analytics data. Adobe says this figure represents 6.1% growth year-over-year, setting a new record for the sales event. Amazon’s annual Prime Day event took place on July 11 and 12 this year.
The online retail giant says shoppers purchased 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 U.S. sales rise 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’s shares rose as much as 2.1% in pre-market trading on Thursday.
Customers spent 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 data firm Numerator.
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. Home goods, fashion and beauty were among the top categories during the sales event.
Adobe says sales were driven by a few different categories on the second day of the sales event. Appliances saw a 52% jump when compared to average daily sales in June. Sales of housekeeping supplies rose 27%, while electronics rose 15%. Other surging categories included apparel, which was up 24%, and office supplies, which was up 76%, driven in part by back-to-school shoppers.
Interestingly, Adobe’s data also found that consumers are becoming increasingly more comfortable shopping on smaller screens, as smartphones drove 44.8% of sales on the second day of the sales event, up from 41.5% last year.
Across both days, 6.5% of orders leveraged 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.
“For months, consumers have felt the effects of persistent inflation and an uncertain economic environment, and it has pushed shoppers to embrace more flexible ways to manage their spending around the Prime Day event,” said Vivek Pandya, a lead analyst Adobe Digital Insights, in a statement. “The revenue growth attributed to Buy Now Pay Later is a preview of what we can expect in the months ahead, especially as we near the holiday shopping season.”
Amazon held its first Prime Day event back in 2015 and has been holding it annually ever since. The sales event gives the company the opportunity to attract new paying customers, while also deepening its relationship with current ones. Amazon also uses the sales event to promote its own devices, including its smart speakers and tablets.
Last year, Amazon had two Prime Day sales, with the first one taking place on July 12-13 and the second one on October 11-12. It’s unknown if Amazon plans to hold two Prime Day events this year as well.
US consumers spent $6.4 billion on the first day of Amazon’s Prime Day event
Comment