About Amazon Prime Day The two-day shopping spree in the US rose nearly 6 percent to $6.4 billion (about Rs. 52,500 crore) from a year ago on its first day, as deep discounts attracted bargain-hunting customers who splurged on gadgets and toys, according to Adobe Analytics data. On Wednesday he showed.
US shoppers have been waiting for the best deals and discounts as rising interest rates and food prices have prompted them to hold off on big-ticket purchases in recent months.
Online electronics sales jumped 37 percent compared to daily sales in June, while toy sales jumped 27 percent on the first day of sales.
Data firm Numerator said the average spend on Prime Day per order rose to $56.64 (roughly Rs. 4,600) from $53.14 (roughly Rs. 4,100) a year ago.
Adobe Digital Insights expects the Amazon event to fetch between $12 billion (about Rs. 98,500 crore) and $13 billion (about Rs. 1,06,700 crore).
Amazon did not immediately respond to a request for comment.
To add more customers, Amazon has partnered with travel booking site Priceline to offer discounts when US shoppers prioritize experiences over non-essential spending.
In the weeks leading up to Prime Day on July 11-12, members of the loyalty program were given access to “invite only” where shoppers could request invitations to specific items they wanted to buy in the store.
Competing advertisers, plus Walmart, Objectives and Best Buy, is also offering huge discounts during Prime Day weekend. Walmart is also using this week as a way to attract more customers to its Walmart+ subscription program by offering a 50 percent discount on annual membership subscriptions.
Rob Garf, Vice President and General Manager of Retail at Salesforcesaid shoppers are now set to compare products from different retailers during Prime Day week, meaning increased competition for Amazon.
Garf said even as people shop online, retailers are seeing a drop in conversion rates — the number of shoppers who go to a store compared to those who shop.
“This tells us that every trip is worthless,” Garf said. Amazon offered big discounts to “incentivize” subscribers when Prime Day launched in 2015 and now Walmart is “taking a page out of Amazon’s playbook,” he said.
Prime Day weekend deals “are not just about early sales and offering discounts, but it’s Walmart and others looking to acquire new customers and turn them into lifelong customers,” Garf said.
International Council of Shopping Centers CEO Tom McGee said events like Prime Day, Walmart + Week and Target Deal days “spend money across the board, including small and large retailers.”
Consumers can get a huge retailer discount of 16 percent on electronics on Wednesday. Clothing is discounted by 13 percent, while toys can be 15 percent cheaper, according to Adobe Digital Insights.
Adobe’s Pandey said Prime Day is an opportunity to find back-to-school products, especially clothing and electronics, whose sales were up 26 percent and 12 percent, respectively, compared to daily sales in June.
Data from Deloitte showed 69 percent of shoppers plan to rely on Prime Day sales for back-to-school purchases. But the currency is expected to fall for the first time in nine years as rising prices dampen non-essential purchases, it said.
Most of Adobe relies on direct-to-consumer sales based on more than 1 trillion visits to US retail sites.
Meanwhile, about 900 Amazon workers at a warehouse in Coventry, Britain, are stuck in a wage dispute for three days from July 11-13, in conjunction with the Prime Day sales event.
Amazon said that the website does not offer direct services to customers and there will be no disruption to customers.
© Thomson Reuters 2023
(This story has not been edited by NDTV staff and is compiled independently from the aggregate feed.)