Early Amazon Prime Day Results Show Average Spending Up From 2021
Consumers heading to Amazon.com for its annual Prime Day shopping event are spending more on average than they did last year, despite the inflation the U.S. economy is facing, according to Numerator, a data and tech company serving the market research space.
The two-day e-commerce shopping event has, as of the morning of July 13, generated 17,667 orders by 8,054 unique households, Numerator's tracker shows. The average spending on orders has been $53.14, up from $47.14 in the same period on Prime Day 2021. Over half (52 percent) of households shopping Prime Day have already placed two or more separate orders, bringing the average household spend to roughly $116.58.
Additionally, Numerator found that 42 percent of orders were placed for $20 or less, and 13 percent were for more than $100.
Total Retail's Take: Americans are looking for deals more than ever, with inflation rising 9.1 percent in June, according to the Bureau of Labor Statistics. According to Numerator, 33 percent of Prime Day shoppers said they waited for the annual sale to buy a specific item at a discount, while 27 percent passed on a "good deal" because they said it wasn't a necessity. Inflation also drove 20 percent of individuals to look at prices outside of Amazon before buying.
“The first day of Amazon Prime Day became the biggest online shopping day in 2022 so far at $6.0 billion," notes Pat Brown, vice president, Adobe, in a statement to Total Retail. "Consumers took advantage of discounts that were offered, after having experienced many months of heightened prices online. The early momentum and strong growth for the first day of the Prime Day event supports retailers trying to unlock new levels of growth in an inflationary market environment.”