📈 Record-Breaking Sales
Amazon's Prime Day 2024 event hit a record $14.2 billion in sales, according to Adobe Analytics. This is an 11% increase from last year's $12.7 billion. The event took place on July 16 and 17, with consumers spending $7.2 billion on the first day, up 11.2% from the previous year. On the second day, sales reached $7 billion, marking a 10.4% year-over-year increase. Although Amazon did not release its own figures, the company confirmed the record-breaking performance.
📱 Mobile Shopping Surge
Mobile shopping saw significant growth during Prime Day 2024. Adobe Analytics reported an 18% increase in purchases made on phones, which accounted for 49.3% of the total sales. Amazon highlighted that its Rufus AI assistant played a crucial role in assisting millions of customers with their shopping needs. This shift towards mobile shopping reflects broader consumer trends and the increasing reliance on smartphones for online purchases.
🛒 Average Order Value
Numerator, an analytics site, noted that the average order value during the two-day event was $57.97. This is slightly higher than the previous two years, where the average order sizes were $56.64 and $53.14, respectively. The data indicates that consumers were willing to spend more per order this year, likely driven by attractive deals and discounts across various categories such as electronics, furniture, and back-to-school items.
🛋️ Top Categories and Payment Trends
Electronics and furniture were among the top-selling categories during Prime Day 2024, with significant contributions from back-to-school shopping. "The electronics, apparel, and furniture categories make up nearly half of the e-commerce spend but have seen low single-digit growth in the first half of 2024," said Vivek Pandya, lead analyst at Adobe Digital Insights. Additionally, the use of "buy now pay later (BNPL)" services increased, with $1.08 billion in orders, accounting for 7.6% of total sales. The overall consumer spend for July 2024 is projected to reach $84.4 billion, an 8.2% increase from last year.
Will Amazon's Prime Day success continue in the future?
