Amazon Leans Into Social Discovery
19 May 2021
24 Jun 2021
The 48-hour shopping frenzy of Amazon Prime Day has come and gone and has proven to be the largest one yet.
The two weeks leading up to Prime Day saw customers spend $1.9B on products by Small Businesses, representing a larger than +100% increase compared to Prime Day in October 2020 (driven strongly by Amazon’s Spend $10, get $10 promotion).
This proved to be a signal of how successful this year’s Prime Day would be – while the eCommerce giant is unlikely to share just how much consumers spent on the sales event, estimates have been made with Adobe Analytics suggesting that US consumers splurged an approximate $11bn (£7.87bn) whilst ParcelHero estimates that UK shoppers splashed out $1.9bn (£1.4bn) representing more than 250 Million items being purchased by Prime Members worldwide.
Amazon released interesting trends (here for original article), with bestselling categories globally including tools, beauty, nutrition, baby care and electronics, diving one level deeper shows that the top selling products globally included the iRobot Roomba 692 Robot Vacuum, Keurig K-Slim Coffee Maker, Apple Cider Vinegar Gummy Vitamins by Goli Nutrition, and Crest 3D White Professional Effects Whitestrips.
To provide further context as to the magnitude of the Prime Day event – sales in the Back-to-School category culminated in the sale of 600k backpacks, 1 million laptops, 240k notebooks, 40k calculators and finally 220k Crayola products.
Acorn-i’s cornerstone client brands experienced an incredible performance over Prime Day. Leveraging our Ignite platform and proprietary data sets reveals that daily sales over Prime Day were >94% higher compared to the average daily total sales of the prior month, with some promoted ASINs seeing >1,300% uplift.
The data indicates a significant change of behaviour by the average consumer over Prime Day. On average, consumers spent between +64% and +98% more compared to their daily average of the preceding month. This is being driven by an increase in the average item price of an order, +30%, as well as an increase in the average order amount, +18%.
The data also shows a decrease in the average number of items per order, down -10%. During the event, Prime Members purchased fewer, but more expensive items.
This is likely due to two main reasons, firstly customers are taking advantage of the significant discounts offered and purchasing more expensive products compared to their usual purchase behaviours; we saw a 10X increase in discounts offered! Secondly, people are purchasing more gifts (for themselves or others), indicated by an +8% increase in the number of customers requesting their orders be wrapped.
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