Amazon Prime Day sales hit $7.2b on first day

US consumers have spent a staggering $7.2 billion on the first day of Amazon’s Prime Day sales event, marking an 11.7% year-on-year increase, according to Adobe Analytics.

This significant rise in consumer spending underscores the growing popularity and impact of Amazon’s annual sales extravaganza, which this year spans multiple regions globally.

Adobe’s report highlights that the initial day of Prime Day not only set the record for the biggest e-commerce sales day of the year but also emerged as the most significant mobile shopping day, with consumers spending $3.5 billion through their mobile devices alone. This shift towards mobile shopping is indicative of changing consumer behaviors and the increasing reliance on smartphones for online purchases.

The Buy Now Pay Later (BNPL) option also saw a notable uptick, clocking a 17.1% increase from the previous year and driving $540 million in sales. This growth reflects consumers’ preference for flexible payment options, which have become increasingly popular in recent years.

Several product categories experienced substantial sales boosts compared to June 2024. Headphones and Bluetooth speakers saw an astounding 164% increase, while other categories such as electronics (33%), televisions (83%), fitness trackers (81%), tablets (71%), e-readers (65%), and computers (64%) also reported significant gains. Additionally, video games surged by 134%, small kitchen appliances by 82%, and perfume and cologne by 49%, demonstrating diverse consumer interests.

The Numerator analytics site provided insights into consumer buying behaviors, noting that the average order size on Prime Day 2024 has risen to $60.03, compared to $56.64 in 2023 and $53.14 in 2022. This increase in average order value suggests that consumers are willing to spend more per transaction during the event.

Adobe Analytics predicts that the two-day Prime Day event will generate a record $14 billion in online spending, representing a 10.5% year-on-year growth. The report emphasizes that this surge is driven by new consumer demand rather than price hikes. “Strong consumer spending this year has been driven by net-new demand, as opposed to higher prices. The Adobe Digital Price Index, which tracks online prices across 18 product categories, shows that e-commerce prices have fallen for 22 months now — down 4.2 percent YoY in June 2024,” the report stated.

This year’s Prime Day event has set a new benchmark for e-commerce sales, highlighting the robust consumer appetite for deals and the increasing significance of mobile and flexible payment options in the online shopping landscape.