Inflation reshapes Amazon Prime Day
Retail Dive | July 14, 2022Brief Overview:
With its 2022 Prime Day event over, Amazon on Thursday said that, globally, Prime members (the only ones allowed to shop the deals) bought more than 300 million items, surpassing other years. The e-retailer declined to provide the event’s revenue.
Still, at a time of peak inflation, consumers kept much of their Prime Day shopping to essentials and smaller purchases, according to Numerator, which found that just 5% of items sold for over $100, while 58% sold for under $20.
As in previous years, Prime Day lifted other U.S. retailers as well, according to the Adobe Digital Economy Index. U.S. online spending nearly reached $12 billion ($6 billion on Tuesday, $5.9 billion on Wednesday), an 8.5% increase over last year. Stores played a role, with conversion for retailers offering curbside pickup and BOPIS up 20% compared to an average day in June, Adobe said by email.
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