Fintech & Ecommerce

Amazon Prime Day Boosts Online Sales in US

During the first 24 hours of Amazon Prime Day, American Internet users spent $6.4 billion on making purchases on virtual commercial platforms.

Amazon Prime Day Boosts Online Sales in US

The result of the first day is 6% higher than the same indicator recorded last year. At the same time, this result did not meet the expectations of stronger growth in the commercial activity of consumers, expressed in monetary terms. The current trends of Amazon Prime Day indicate that buyers are primarily interested in those offers that provide maximum financial benefit and allow them to keep the scale of costs within certain limits.

This event is being held for the ninth time. Promotions should help the e-commerce giant expand its base of paying customers. The retailer also uses this event as an opportunity to strengthen relationships with existing customers before the start of the vacation season.

Numerator research firm announces the successful launch of Amazon Prime Day in 2023. The average order size at the beginning of the event was $56.64. This figure is 7% higher than the result of a year ago. The categories of products that are in the greatest demand from consumers are household goods and necessities. About 6% of orders were made using the Buy Now, Pay Later services.

Adobe predicted that e-commerce sales in the United States will grow by 9.5% during Amazon Prime Day. Insider Intelligence suggests that during the event, shoppers around the world will spend about $12.9 billion on purchases. This projected cost level is approximately 11% higher than the result recorded in 2022.

Amazon Prime Day was launched in 2015. The e-commerce giant sees this event as a way to attract new customers who pay $139 annually for discounts on shipping, video streaming, and other benefits.

Data from Consumer Intelligence Research Partners shows that in March of this year, about 167 million Amazon customers in the United States had a Prime subscription. Compared to the same indicator last year, the number of subscribers has not changed.

In 2023, the e-commerce giant launched invitation-only promotions. As part of this company’s solution, buyers can register their interest in a particular product and receive a unique link to complete the transaction. This measure is aimed at eliminating consumer frustration that occurs when the best deals disappear in a few seconds.

Amazon is making every possible effort to ensure a high level of interest in its commercial initiative. The company is touting millions of deals, including discounts of up to 75% on some items from its product line, including Alexa-powered Echo Show and Amazon Fire TVs.

As we have reported earlier, Amazon Gives Merchants Free Business Prime Duo Access.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.