Americans Spent Over $11B During Amazon Prime Day Event
The second day of Amazon Prime Day saw a total U.S. online spend over $5.4 billion, according to Adobe Digital Economy Index data. This represents a 3.6 percent growth compared to e-commerce revenue on the second Amazon Prime Day last year. Across both days, the U.S. online spend across retailers exceeded $11B, representing 6.1 percent growth year-over-year.
Adobe's data revealed that larger retailers strongly benefited from Prime Day with over $1 billion in annual online revenue, posting a 29 percent e-commerce revenue lift compared to an average June day. However, smaller retailers are catching up as people comparison shop. Smaller retailers saw almost $10 million in annual online revenue as a result of the halo effect from Prime Day, a 21 percent increase YoY. Overall, the average online revenue lift across the country was 143 percent compared to an average June day.
The data also showed that brick-and-mortar retailers that offer BOPIS saw a 10 percent boost in conversion from Prime Day, compared to only a 3 percent conversion increase for retailers that do not offer BOPIS.
Total Retail's Take: This data matches the Amazon Prime forecast Adobe previously shared earlier this month, and is encouraging news for the retail industry as a whole. Despite Amazon and other retailers providing smaller discounts than in years past, the total spend speaks to the pent-up demand for shopping as Americans look forward to the end of the pandemic. Similar to years past, Amazon's Prime success trickled down to other retailers, big and small. Given that last point, retailers have wisely begun to hold their own sales events concurrently with Prime Day, helping to capture some of the increased online traffic that's common during the two-day shopping event.
Ashley Chiaradio is the Senior Content Strategist at Total Retail. Ashley has been creating content for more than 7 years, and provides a unique insight in covering the retail industry having worked directly for retailers in the past. She’s passionate about profiling women leadership in the space.