Amazon Prime Day was introduced in 2015 to mark the 20th anniversary of Amazon's founding. It swiftly grew to become the retailer's largest shopping event of the year, effectively serving as the summer equivalent of Black Friday. Starting in July 2019, the event expanded to span 48 hours, up from its initial 24-hour duration. The deals are exclusive to Amazon Prime members, who numbered around 200 million globally by 2020.
Prime Day 2023: Record-Breaking Success
Amazon's Prime Day 2023 was a huge success, setting a new sales record. The total sales for the event reached $12.7 billion, which marked a 6.1% increase over the previous year's sales of $11.9 billion. Shoppers from 24 countries purchased over 375 million items, a significant increase from the previous year's 300 million.
Who shopped on Prime Day 2023?
Prime Day 2023 saw a diverse range of shoppers participating, showing the wide appeal of the event. Repeat customers made up the majority of Prime Day shoppers, demonstrating the loyalty and appeal that Amazon has built over the years. The varied age of shoppers further highlights that Prime Day is an event that caters to a broad spectrum of consumers.
Sales Trends and Consumer Behavior
The first 24 hours of Prime Day has been the biggest e-commerce day of the year, with sales reaching $6.4 billion, a 6% increase from the previous year. Most consumers shopped between 8 p.m. and 9 p.m., showing that prime time is not only a TV concept but also a peak online shopping hour. Popular categories showed significant areas of consumer interest.
Health & Beauty: Attracted 42% of Prime shoppers, signaling a strong trend in personal care and wellness products.
Home & Garden: With 41% of purchases, this category demonstrated the ongoing interest in home improvement post-pandemic.
Electronics: Although traditionally dominant, saw a slightly more modest increase, capturing 32% of shopper interest.
Apparel: 24% of consumers bought clothing, a significant increase of 33.3% from the previous year.
How much did shoppers spend on Prime Day 2023?
The average order size on Prime Day 2023 was $58.67, down from $60.73 on Prime Day 2022. Nearly three-fourths (73%) of households shopping Prime Day placed 2+ separate orders, bringing the average household spend to roughly $181.72.
Looking Forward
Prime Day 2023 also provided a glimpse into the future of online shopping. The substantial growth in the use of Buy Now, Pay Later (BNPL), amounting to $927 million in transactions. BNPL options during the event suggest a future where flexible payment options could become the norm. Moreover, the continued shift towards mobile shopping was evident, with many consumers making purchases through their smartphones. This trend emphasizes the rising need for retailers to optimize mobile shopping experiences.
Conclusion: What to Expect for Prime Day 2024?
As we look ahead to Amazon Prime Day 2024, expectations are high following the remarkable success of the 2023 event. The consistent year-on-year growth suggests that the trend of record-breaking performances is likely to continue.As Amazon and other retailers prepare for this major event, consumers can look forward to another exciting Prime Day with enticing deals across a wide range of categories.
