Amazon’s annual sales event, Prime Day, generated more than $ 12 billion in sales, according to third-party estimates. The retailer hosted the popular shopping event in the U.S. and in more than 15 countries around the world from July 13-15. This was the first Prime Day event under new CEO Andy Jassy, who took over from Jeff Bezos last year after the founder of Amazon resigned.
The company was optimistic with its Prime Day results and said it was the “best ever” mentioning that consumers worldwide cost $ 1.7 billion. Amazon claimed to have sold more than 300 million items during those sales, but did not disclose any revenue figures.
He also noted that he sold “more devices than any other Prime Day,” but declined to put any numbers on it. The firm said buyers bought products worth more than $ 3 billion in more than 100 million small business items during the two-day event.
For weeks until Prime Day, Amazon opted for influencers to boost QVC-style live video shopping sales. The firm has partnered with celebrities such as TikTok creators Joe and Frank Mele, Porsha Williams of “The Real Housewives of Atlanta,” “Selling Sunset” star Chrishell Stause, comedian Kevin Hart and Australian model Miranda Kerr. The company said these live transfers generated more than 100 million views, but did not emphasize the amount of sales they generated.
A report by The Information paints a different picture: he said some videos of some of his top influencers didn’t get more than 4,000 live viewers. Amazon isn’t the only one struggling with live trading. Earlier this month, the Financial Times reported that TikTok is slashing its plans to buy live videos in the US and Europe.
Amazon did not comment on revenue or sales figures recorded during Prime Day or through Amazon Live experiences.
Image credits: Amazon
Because Amazon does not disclose its Prime Day sales numbers, we need to rely on analysts and third-party data to draw a picture of how the event’s sales went.
Analysts estimated that Amazon sold gross goods of between $ 12,090 billion and $ 12.59 billion from Prime Day sales worldwide. It is important to note that some countries such as India, Saudi Arabia, Egypt and the United Arab Emirates have not yet hosted Prime Day sales.
In addition, a Salesforce report noted that overall sales from retailers selling products at their own locations grew 8% year-over-year for Tuesday and Wednesday in the second week of July. But sales figures for non-Amazon sites globally were down 12% compared to Prime Day 2021.
As usual, major U.S.-based retailers took advantage of Amazon’s Prime Day to offer their own discounts, encouraging consumers to spend more in an inflation-driven market that has seen prices rise from different articles in recent times.
An Adobe Digital Economy Index study said total U.S. online spending among online retailers reached $ 11.9 billion, up 8% from last year, which was $ 11,000. millions of dollars. He noted that the second day of Prime Day sales generated more than $ 5.9 billion, up 9.2% from the second day last year, which generated $ 5.4 billion.
“With the second Prime Day also seeing big gains, retailers were able to generate approximately $ 12 billion in online spending during the two-day event. Clearly, consumers are incredibly price-conscious and it will be important for retailers take advantage of prices effectively in order to unlock new online growth potential, ”said Pat Brown, Adobe’s vice president.
In addition, data group Numerator published its own study based on nearly 59,000 Prime Day orders and a survey of more than 4,800 buyers, which said the average order size increased by $ 44.75 per year. last year at $ 52.26 in Prime Day sales. He noted that 65% of shoppers who shopped on both days spent the same amount or less than last year.
The company’s study highlighted some numbers that indicated that Amazon’s influence on Prime Day sales may have diminished slightly. 24% of shoppers made purchases from another retailer compared to 20% last year; 44% of people considered Amazon only this year, compared to 52% last year; and 34% of people checked prices at other retailers before making a purchase, compared to 33% of people last year.
Image credits: Numerator (opens in new window)
These studies indicate that inflation has affected Prime Day sales and retailers may not have seen a significant increase in their sales compared to last year.
Amazon has had a tough year, as its stock prices have dropped from about $ 181 a year ago to $ 110 at the time of writing. It’s important for the company to boost sales, so much so that it could celebrate another Prime Day later this year. This year, the company’s workers have also raised questions about job security and wages during Prime Day’s peak sales.