Consumer spend in the U.S. for the first day of Amazon Prime Day recorded 11.7% year-on-year growth according to data by Adobe Analytics. Amazon is holding its Prime Day event this week across many regions.
Adobe’s report noted that consumers spent $7.2 billion on the first day as compared to $6.4 billion on the first day in 2023. It said that the first day of the Prime Day event Tuesday was the biggest e-commerce sales day of the year, as well as the biggest mobile shopping day of the year, with consumers spending $3.5 billion from their mobile devices.
Adobe said that its Buy Now Pay Later (BNPL) option clocked 17.1% growth year-on-year driving $540 million in sales.
As compared to sales in June 2024, some categories registered higher sales such as headphones and Bluetooth speakers (164%), electronics (33%), televisions (83%), fitness trackers (81%), tablets (71%), e-readers (65%) and computers (64%). Other growing categories were video games (up 134%), small kitchen appliances (up 82%) and perfume and cologne (up 49%).
According to analytics site The Numerator, the average order size on Prime Day 2024 so far is $60.03. In comparison, the average order size of the past two years’ events were $56.64 and $53.14, respectively.
The Adobe Analytics reports predicts a record $14 billion online spend across the two-day event with 10.5% year-on-year.
The report noted that the higher sales numbers are due to new demand and not due to rising prices of items.
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“Strong consumer spending this year has been driven by net-new demand, as opposed to higher prices. The Adobe Digital Price Index, which tracks online prices across 18 product categories, shows that e-commerce prices have fallen for 22 months now — down 4.2 percent YoY in June 2024,” the report said.
