Amazon Prime Day is one of the most thrilling shopping days of the year. 🛍️
By offering as little as 5% to 15% off, Amazon sellers can significantly boost revenues.
Amazon Prime Day is also an excellent day for DTC brands to lift revenues and gather a wealth of data on current and future consumer trends. 👀
Here are some of the best takeaways from this year’s sale that will help you inform your strategy moving forward. 👇
1️⃣ Consumers are shopping on Amazon more than ever before
The first day of Prime Day 2023 was the single largest sales day on Amazon—ever. Global consumers purchased over 375 million items worldwide. Gasp!
What’s more interesting? This year, third-party sellers outperformed Amazon’s retail business.
Why this matters: Amazon Prime members eagerly await Prime Day discounts, especially from third-party sellers. If you can’t beat Amazon, join them—or leverage their popularity to boost your sales.
2️⃣ Fashion, beauty, and home are winners for the most sales
This year, consumers responded best to deals in the fashion, beauty, and home categories.
The top-selling deals included: LANEIGE Lip Glowy Balm, Apple AirPods, and BISSELL Little Green Portable Deep Cleaner.
Why this matters: If you’re a DTC brand in one of these three verticals, your people are hanging out on Amazon. Consider running a promotion on Amazon during the Prime Fall Deal Event.
3️⃣ Consumers will shop next Amazon Prime Day, too
Jungle Scout wanted to understand consumer sentiment in anticipation of the next Amazon Prime Day.
Research reveals that 68% of respondents plan to participate in Amazon Prime Day in 2024.
Why this matters: If you’re up in the air about whether to participate next year, remember that a majority of consumers have already decided to do so.
4️⃣ The average order increased this Prime Day
The average Prime Day order in 2022 was $52.26. This year, the average order was up slightly at $54.05, according to Numerator. 📈
Moreover, 65% of Amazon Prime Day consumers made at least two separate orders with an average spending of $155.67.
So what? One benefit of participating in a two-day Amazon Prime Day sale is that consumers are looking for deals for two consecutive days across different devices. If someone misses out on day one, they may find you on day two.
5️⃣ Many consumers opted for BNPL (buy-now-pay-later)
Adobe reported that 6.4% of all orders on the first day were made using BNPL. Those orders resulted in $461M in revenue. These BNPL numbers were up by 19.5% compared with the first day of the sale last year.
This upward trend continued for day two. Amazon saw $466M in BNPL revenue for online orders.
Why this matters: Consumers are willing to purchase on Amazon Prime Day in exchange for a discount, even if it means splitting the payment over several months. Flexible payment options allow consumers to manage their spending and participate in sales.
6️⃣ Consumers researched and shopped across platforms on Amazon Prime Day
Numerator also saw that 54% of Amazon Prime Day shoppers compared prices at competing marketplaces: 36% checked prices at Walmart and 25% compared prices at Target.
Why this matters: Amazon Prime Day isn’t only an Amazon shopping holiday. It’s a shopping holiday, period. Yes, you can gain a lot of sales on Amazon. But you can also partner with other third-party marketplaces that may be running deals. You can also get creative and run competing “Amazon Prime Day” deals via your email and SMS marketing programs.
If you’re on Amazon but haven’t been participating in Prime Day deals in the past, give it a go—meet your dream shoppers where they are!
