Consumer spend in the U.S. for the first day of Amazon Prime Day recorded 11.7% year-on-year growth according to data by Adobe Analytics. Amazon is holding its Prime Day event this week across many regions.
Adobe’s report noted that consumers spent $7.2 billion on the first day as compared to $6.4 billion on the first day in 2023. It said that the first day of the Prime Day event Tuesday was the biggest e-commerce sales day of the year, as well as the biggest mobile shopping day of the year, with consumers spending $3.5 billion from their mobile devices.
Adobe said that its Buy Now Pay Later (BNPL) option clocked 17.1% growth year-on-year driving $540 million in sales.
As compared to sales in June 2024, some categories registered higher sales such as headphones and Bluetooth speakers (164%), electronics (33%), televisions (83%), fitness trackers (81%), tablets (71%), e-readers (65%) and computers (64%). Other growing categories were video games (up 134%), small kitchen appliances (up 82%) and perfume and cologne (up 49%).
According to analytics site The Numerator, the average order size on Prime Day 2024 so far is $60.03. In comparison, the average order size of the past two years’ events were $56.64 and $53.14, respectively.
The Adobe Analytics reports predicts a record $14 billion online spend across the two-day event with 10.5% year-on-year.
The report noted that the higher sales numbers are due to new demand and not due to rising prices of items.
“Strong consumer spending this year has been driven by net-new demand, as opposed to higher prices. The Adobe Digital Price Index, which tracks online prices across 18 product categories, shows that e-commerce prices have fallen for 22 months now — down 4.2 percent YoY in June 2024,” the report said.
Source : Techcrunch
