Sales this holiday season could be bigger than ever following the success of Amazon’s October Prime Day event as shoppers develop a taste for bargains.
Despite a challenging economic outlook, Amazon’s October Prime Day event (‘Prime Big Deal Days’) broke records again in 2023, and it may signal a storm of sales to come in the run-up to the holiday season.
According to an article by Annie Palmer of CNBC, “Prime members scooped up more than 150 million items from third-party sellers,” up from 100 million in 2022.
Shoppers are hungry for deals, which is precisely what they expect from Prime Day.
According to statistics from Numerator, “The average order size on Prime Big Deal Days was $53.47, down from July’s Prime Day sale but up slightly from last October’s Prime Early Access sale.”
Suggesting that shoppers are looking more for bargains than they were this July but still spending more than last year.
Numerator also noted: “More than half (60%) of Prime Big Deal Days items sold for under $20, while 4% were over $100— the average spend per item was $27.90.”
However, despite Amazon’s enormous success this year, experts expect this is just the beginning of the holiday season and that there may be many more sales to come.
In an article by Retail Brew, Katishi Maake spoke with Rob Garf, VP and GM of retail at Salesforce, who told Maake:
“Thanksgiving is a really popular day now, especially after people are done with their Thanksgiving meal. We see between 4pm and 7pm local times…traffic spikes and buying spikes.”
Salesforce is also expecting a 30% increase in discounts throughout the week preceding Thanksgiving and Cyber Monday, so we may see extraordinary sales on the horizon as the holiday season approaches.
Elsewhere, Prime Day has already outgrown Amazon as other marketplaces, such as Walmart and Target, attempt to counter Prime Day with their own sales events (‘Walmart Deals Holiday Kickoff,’ ‘Target Circle Week’), as well as DTC brands.
It will also be interesting to monitor if customers will continue to use BNPL as a payment method in future sales events as it grew in usage in both Amazon’s July and October Prime Day events.
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