Here’s some clues to how the retail giant Amazon’s annual buyfest is going.
Amazon’s (AMZN) – Get Amazon.com Inc. Report Prime Day – actually it’s Days, July 12-13 – appears to be going well.
During the first 32 hours, the average expenditure per order was $53.14, up 13% from $47.14 in the year-earlier period, according to market research firm Numerator.
To be sure, whether Amazon’s total sales for the latest period exceeded last year’s total is unclear. Numerator didn’t provide that data. But it did offer plenty of other statistics.
· More than 2 of every 5 orders (42%) came to $20 or less and 13% totaled more than $100.
· The average household expenditure was $117, with 16% of households shelling out more than $200.
· More than half (52%) of households that have shopped during Prime Day placed two or more orders, and 9% placed five or more.
· The top five items sold were Amazon’s Fire TV Stick, Amazon’s Echo Dot 4th Gen, PepsiCo’s (PEP) – Get PepsiCo Inc. Report Frito-Lay Variety Pack, Amazon Gift Card Reload and Procter & Gamble’s (PG) – Get Procter & Gamble Company (The) Report Dawn Powerwash Dish Soap.
· As for the impact of inflation, which soared 9.1% in the 12 months through June, more than 4 of every 5 Prime Day shoppers (83%) said it influenced their purchases.
· A third (33%) of shoppers said they waited to make a purchase until Prime Day sales, 27% passed on an item that was a great deal but not a necessity, 13% decided not to buy something they had planned to buy, and 6% bought a smaller size to save money.
· The top categories that Prime Day buyers reported buying are household essentials (32% of respondents), health and beauty (28%), consumer electronics (27%), apparel and shoes (23%), and home and garden (20%).
A Street.com story from Daniel Kline lists four common Prime Day mistakes and how to avoid them.
The author of this story owns shares of Amazon, Pepsi and Procter & Gamble.