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The Frito-Lay variety package was the sixth most-purchased item during Prime Day.
Michael M. Santiago / Getty Images
The Amazon.com Prime Day event has officially ended. The best-selling items during the sales event show that consumers desperately need a bargain while inflation continues to rise.
Prime Day ran from July 12-13, this year, and Amazon Prime subscribers were able to save on a variety of items on the e-commerce platform, from Fire Sticks to groceries. Amazon (ticker: AMZN) released a statement on Thursday after the savings event, calling this year “the biggest Prime Day event in history” and noting that Amazon Prime members around the world are save more than $ 1.7 billion and that Amazon devices sold more units than during any previous Prime. Day event.
But of all that was marked at this year’s sales event, shoppers bought more things for the home, according to Numerator, a consumer data and knowledge company.
Amazon shares were 1.5% higher, at $ 112.30, in recent trading, after not changing much in response to Prime Day. Shares have fallen 33% in 2022.
According to data from more than 4,800 buyer surveys, basic household items were the most purchased items during this year’s Prime Day, followed by health and beauty and consumer electronics. This follows what Amazon reported Thursday: that Pampers and The Honest Company (HNST) diapers and wipes were among the best-selling items worldwide.
Numerator reported that the Frito-Lay variety package was the sixth most-purchased item during Prime Day, after maintaining a place in the top five for most of the event. During the event, Dawn Powerwash Dish Soap was on the list of the top five items sold. In the end, the five best-selling items were all Amazon-branded, including Fire TV Sticks, Echo Dot 4th Gens, Blink Cameras and Doorbells, Amazon Gift Card Refills, and Ring Video Doorbells, Numerator said.
This year’s Prime Day data differs from 2021, when health and beauty, consumer electronics and clothing and footwear were the three most-bought categories during the sales event, while items basics for the home were at number 4, according to Numerator.
So what’s behind the change? The Labor Department reported on Wednesday that the consumer price index rose 9.1% in June on an annual basis, the highest rate since late 1981. In particular, the cost of groceries has now risen a 12.2% over the last year, which is the largest annual increase. since April 1979.
83% of Prime Day shoppers said inflation and rising prices influenced their Amazon purchase, according to Numerator.
In a research note earlier this week, JP Morgan analyst Doug Anmuth said “e-commerce still faces pressures from continued supply chain disruption and a tight labor market, along with inflation and the slowdown in consumer discretionary spending, all of this could affect [near term] growth and [full year] profitability ”. He projected slower growth in Prime Day’s incremental revenue “given the challenging macro context”.
Anmuth is optimistic about Amazon’s shares, with an overweight rating and a $ 175 price target.
Write to Angela Palumbo at angela.palumbo@dowjones.com