Prime Day 2023 was a winner, based on data from Adobe Analytics, with an estimated $12.7 billion spent over the two days in the U.S., up 6.7% from $11.9 billion last year, and Amazon called day one on July 11 its single largest sales day ever, with 375 million items sold worldwide. Considering the state of the economy and consumer sentiment, that kind of a result is quite an achievement.
Let the Prime Day show begin! Or rather, make that shows, as Target and Walmart are once again offering up competitive summer bargain events as each tries to shake off the economic doldrums, steal the other’s thunder and stir up consumer interest in a raft of online savings. Amazon could use a win considering all the heat it’s facing, although expectations aren’t set high.
Amazon reported third quarter revenue under estimates and provided a lowered fourth quarter outlook on Thursday, causing yet more jitters on Wall Street and in the industry as retail swings into the home stretch of the peak holiday season, and sending shares down 20% after hours.
Despite inflation fears, retailers are likely to see an increase in consumer spending this summer, with 61% planning to shop “holidays” like Prime Day, and 76% of them saying they’ll spend the same or more on the extravaganza as last year, according to data from Adobe Commerce.
Amazon is looking for a big win from Prime Day 2022 (July 12-13) to help restore some mojo to a company unaccustomed to criticism for earnings challenges, overbuilt warehouses and a stock that shed 40% of its value in the past 12 months, pre-split. This is the first time since 2019 it’s been in its accustomed spot in mid-July.
Prime Day 2021 is in the books with a record $11 billion in sales, according to Adobe’s Digital Economy Index, up 6.1% from $10.4 billion in 2020, when the event was held in October, but was not a winner for retailers not named Amazon, based on data from SalesForce. Wall Street wasn’t impressed with flat growth over the 2020 event.
Prime Day one on Monday saw total online sales in the U.S. surpass $5.6 billion, up 8.7% from 2020, surpassing Thanksgiving Day last year which rung in at $5.1 billion, according to data from the Adobe Digital Economy Index. Toys saw the deepest discounts, while appliances and electronics proved most popular, Adobe reported.
As COVID-19 restrictions tighten once again, consumers will be staying away from stores in droves on Black Friday, with CommerceHub reporting 70% would not be venturing out for deals the day after Thanksgiving. 71% said they planned to shop online during Black Friday and Cyber Monday, holding out until then for better deals.
In the peak holiday season like no other, Adobe is calling for a 33% increase in holiday ecommerce sales from Nov. 1 through Dec. 31, hitting a record $189 billion, equal to two years’ growth from a single year, as retailers, carriers and solution providers alike gear up for a blowout.
Another Prime Day is in the books, with Amazon reporting that third-party sellers rang up $3.5 billion in sales over the two days, up 60% from $2.2 billion in 2019, and once again Amazon devices were big winners. eMarketer pegged the worldwide total for Prime Day at a shade under $10 billion, up a hefty 43% from $6.93 billion in 2019.