Bold and Brash: Amazon's Record-Breaking Prime Day 2022
US E-commerce Sales Surge over 6% to Reach $12.7 Billion During Prime Day, According to Adobe
Here's the scoop: Amazon shattered records on Prime Day 2022, topping its previous sales highs. The e-commerce goliath announced that the initial day of the annual sale spree was their biggest sales day ever, and shoppers worldwide saved over $2.5 billion!
Despite keeping tight-lipped on revenues, Amazon boasted a successful two-day extravaganza that outperformed previous Prime Days. The event infused a boost to U.S. e-commerce sales, with a 6% year-over-year surge on July 11 and 6.4% on July 12, according to Adobe Analytics. Across both days, U.S. online sales reached an impressive $12.7 billion.
Interestingly, more than half of Prime Day shoppers were waiting for the sales to grab items they'd been holding off on, often stocking up on everyday essentials instead of high-ticket items. Numerator found that shoppers used buy now, pay later for approximately 6.5% of online orders, with revenues totaling $927 million, a 20% increase compared to last year.
U.S. consumers have been struggling with inflation's impact on their wallets, making sales events like Prime Day a timely solution for buying necessities or planned purchases.
Koen Looijmans, executive vice president of Retail PX at Productsup, pointed out that both Target and Walmart hosted competing sales alongside Amazon's Prime Day. These events, lasting seven and four days, may have been aimed at capturing customers who missed Amazon's short window for shopping.
This year, over half of Prime Day shoppers compared Amazon's prices with other retailers before making a purchase, and about a third considered shopping Target's and Walmart's events. Intriguingly, consumer expectations for curbside pickup may play a role during the upcoming holiday season, as 20% of online orders on July 12 used this service, slightly up from the previous year, according to Adobe.
So, you might be wondering, what exactly did people buy on Amazon's Prime Day? Interestingly, the average spend per item was $32.35, with over half of the items priced under $20. Early in the sale, top-sellers included Temptations Cat Treats, Fire TV Sticks, and Liquid I.V. Packets.
Moreover, some exciting insights on Prime Day 2022 top sellers emerged from enrichment data. Home and kitchen essentials, including the Qiopertar 1PC Rust Steel Large Basin (with a staggering sales increase of over 13 million percent), led the pack, closely followed by toys, electronics, and personal care items.
In conclusion, Amazon's Prime Day 2022 was a blockbuster event, with home and kitchen essentials, toys, and electronics emerging as clear favorites among shoppers. Don't miss the hottest deals when the holiday season rolls around!
- Various industries, including the retail sector, watched Amazon's Prime Day 2022 closely, as over $12.7 billion in online sales were recorded.
- Amidst the inflation troubles, the sale provided an opportunity for consumers to buy necessities and planned purchases, resulting in a 6% year-over-year surge in e-commerce sales.
- The AI-driven e-commerce giant, Amazon, wasn't the only player in the game, as competitors like Target and Walmart, with their extended sales events, aimed to capture customers seeking better deals.
- As the holiday season approaches, consumer expectations for curbside pickup may play a more significant role, with 20% of online orders on July 12 using this service.
- Beyond household essentials and electronics, the latest AI research shows that home and kitchen essentials, like the Qiopertar 1PC Rust Steel Large Basin, were among the top sellers on Amazon Prime Day 2022, highlighting the growing demand for practical lifestyle products.
