Amazon Prime Day's first day of online consumption was extremely hot! Daily sales far exceeded those of 2023

Zhitong
2024.07.18 08:38
portai
I'm PortAI, I can summarize articles.

On the first day of Amazon Prime Day, online sales reached $7.2 billion, exceeding the sales of 2023. Amazon attracted global customers by offering significant discounts, taking away market share from other large retailers. In addition, back-to-school spending in the United States has also increased significantly. Before this year's Prime Day promotion started, Amazon had already provided early access to discounted shopping

According to the latest report released by Adobe Analytics on Wednesday, on the first day of Amazon Prime Day, the online sales of major retailers in the United States reached a staggering $7.2 billion, compared to $12.7 billion in online sales during the two days of the Prime Day promotion in 2023. It is worth noting that major retailers in the United States, including retail giants Walmart (WMT.US) and Target (TGT.US), had launched promotions and sales events before July, attracting global customers by offering significant discounts to compete with Amazon's Prime Day promotion.

Statistical data shows that Amazon has taken away a portion of market share from other large retailers this month, as customers can enjoy significant shopping discounts on Prime Day that started a decade ago and can order items for same-day or next-day delivery.

Amazon Prime Day lasted from July 16th to 17th Eastern Time.

According to Adobe Analytics, which researches e-commerce transaction data, back-to-school spending in the United States unexpectedly saw a significant increase. Compared to the daily sales level in June 2024, the daily sales announced on Tuesday increased by about 210%.

Adobe Analytics stated that the single-day online sales total as of July 16th increased by 11.7%. Previous statistics from 2023 showed that global shoppers participating in the Prime Day promotion spent approximately $12.7 billion online over the two days of the event, which was near a historical peak. This year, even before Amazon started driving demand for the two-day Prime Day promotion, it had already provided a preview of discounted shopping, reflecting strong market demand that prompted merchants to start promotions early.

Data from Numerator shows that in the first 32 hours of the Prime Day promotion event, the average spending per order on Amazon reached $60.03, surpassing the historical peak of $56.64 set in 2023.

Adobe Analytics mentioned that consumers will gradually start major transactions on Wednesday Eastern Time, with the institution forecasting discounts of around 23% for electronics, 20% for clothing, and 15% for toys. Adobe Analytics' statistical data is based on transaction data from direct-to-consumer (DTC) channels, with visits to U.S. retail websites exceeding 1 trillion times

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.