Amazon Prime Day offers a glimpse into U.S. consumer as shoppers navigate with pinched wallets
Heavy discounts pushed shoppers to buy electronics, toys and home goods, with average order sizes slipping as consumers sought deals, Adobe said.
- U.S. online shoppers spent more than $26.4 billion during Amazon Prime Day from June 23 through Friday, according to Adobe Analytics, offering a snapshot of consumer health.
- The 9.3% year-over-year spending increase reflects high inflation and tax refunds of $3,462, which "could have provided a sizable tailwind to a lot of these discretionary categories," CFRA Research analyst Arun Sundaram said.
- Average order sizes fell to $47.66, signaling "fatigued" consumers "just trying to spread what they have over better deals," Alix Partners managing director Sonia Lapinsky said.
- Shoppers continued to utilize "buy now, pay later" credit features for 6.6% of orders, while Walmart Inc. and Target Corp. competed for sales during the event.
- Retailers may need to continue offering deep discounts through the holiday season to move products, Adobe suggests, as customers prioritize necessities like protein shakes and trash bags.
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Bristol Herald Courier
Amazon Prime Day offers insights into US consumers with pinched wallets
Here's what shoppers bought and how much they spent during Amazon.com's annual sales event.
Amazon Prime Day total online spending surpasses Adobe estimate
Online spending across all retailers in the US hit $26.4 billion during Amazon.com Inc.’s annual Prime Day sale, according to Adobe Inc., narrowly beating the firm’s earlier estimate of $26.3 billion. The four-day event ended Friday, with competitors such as Walmart Inc. and Target Corp. hosting overlapping promotions. Total spending for the period was up 9.3% from last year’s Prime Day sale held in July, according to Adobe, which tracks visits …
Amazon Prime Day offers a glimpse into the U.S. consumer as shoppers navigate with pinched wallets
Retail experts attribute the 9.3% year-over-year increase in spending to high inflation and shoppers purchasing more discretionary, long-lasting products.
Amazon Prime Day offers a glimpse into U.S. consumer as shoppers navigate with pinched wallets
The multibillion-dollar spend marks a 9.3% year-over-year increase that retail experts attribute to high inflation coupled with shoppers' purchasing of more discretionary, long-lasting products.
Online consumers in the United States ran for promotions in electronics, household appliances, children's items and products for daily use during Prime Day, the annual Amazon sales event, spending more than $26.4 billion between June 23 and 26, according to the Adobe Analytics data company. This spending of several billion dollars represents an increase of 9.3% over the previous year, which retail experts attribute to high inflation, coupled wit…
U.S. online buyers launched in search of deals on electronics, appliances, children's items, and staples during Prime Day, Amazon.com's annual sales event, where they spent more than $26.4 billion between June 23 and 26, according to Adobe Analytics data company. Multimillion dollar spending represents an annual increase of 9.3%, which retail experts attribute to high inflation, coupled with consumer purchases of more discretionary and long-term…
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