Amazon.com Inc.’s Prime Fall Sale kicked off on Tuesday, drawing attention from cost-conscious shoppers, who primarily focused on purchasing budget-friendly kitchen gadgets and clothing rather than splurging on high-value items, according to reports from Bloomberg.
During the initial eight hours of the event, customers spent an average of $38, marking a two percent increase compared to the same timeframe last year, as reported by Attain, a research firm that collects data from credit card transactions.
Brian Mandelbaum, Chief Executive Officer of Attain, mentioned that Amazon is closely monitoring customers’ browsing activity to provide tailored deals later in the season when shoppers are ready to make more substantial purchases. Similar strategies are being adopted by other retailers looking to capitalize on Amazon’s sale.
The report also noted that consumers are grappling with ongoing inflationary pressures while experiencing an increase in their debt obligations and a decrease in savings. The resumption of student loan payments, previously halted during the pandemic, is expected to put a strain on consumer spending.
According to Adobe Inc., online sales in the United States for November and December are projected to increase by 4.8 percent, reaching $222 billion. This surpasses the 3.5 percent growth seen last year but still falls significantly short of the 13 percent growth achieved in 2019 before the pandemic.
Numerator, another research firm, reported that the best-selling items during the sale so far include Amazon-branded batteries. Numerator’s data, gathered from 890 shoppers placing 1,379 orders, revealed that approximately 60 percent of the items sold were priced under $20, with only three percent exceeding the $100 mark.
“We’re just getting started, and so far, we’re really pleased with what we’re seeing and hearing from our customers, with Prime members shopping top deals across electronics, toys, home, fashion, beauty, and Amazon devices,” said company spokesperson Maria Boschetti in a statement.
In 2015, Amazon introduced its Prime Day summer sale to attract new subscribers who pay $139 annually for benefits like shipping discounts and video streaming. This event allows Amazon to secure shoppers’ loyalty ahead of the holiday season and strengthen its bond with existing customers by offering exclusive deals on Amazon devices and various other products.
Last year, the company launched a second event called the Prime Early Access Sale, where shoppers predominantly favored discounted pantry items over expensive products. This year’s autumn sale has been rebranded as Prime Big Deal Days.
Adobe estimates that during the two-day period, total online sales in the United States will amount to $8.1 billion, reflecting a 6.1 percent increase compared to the previous year.
