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07/22/2022

ACI: Prime Days boost wider retail market, driving double-digital sales growth

Marianne Wilson
Editor-in-Chief
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Prime Day
Desktops still dominated sales of big-ticket items during Prime Days.

Amazon Prime Days gave a big boost to the wider retail market, led by sales of mobile and electrical devices.

Payments company ACI Worldwide reported that, across its merchant customers, overall transaction volumes increased by 25% and transaction values increased by 20% compared with 2021.  The rise in sales also held up remarkably well compared with the onset of the pandemic in 2020, noted ACI, with a 26% percent rise in transaction volumes and 10% increase in the value.

According to ACI’s analysis, electrical and electronic items were the most popular purchases. Electrical and electronics saw the value of transactions soar 90% on the first day, with the average transaction value (ATV) increasing by $275 (53%), compared with 2021 and 16% on day two with ATV rising by $238 (37%).

General retail saw a 64% increase on day one and 21% increase in volume on day two. Fashion had a modest 13% growth over 2021 on the first day.

FRAUD

Fraud attempts throughout Prime Days remained flat, rising a modest 0.1% over 2021 figures, despite the surge in transactions and increased number of payment methods. Notably, fraud attempts on eWallets decreased by 0.2%.

"The real success story throughout Amazon Prime Days has been consumer security," said Erika Dietrich, head of fraud management and payments analytics, ACI Worldwide. "Despite shoppers buying more, paying more, and Prime Days being trailed for months, fraud attempts flatlined or faltered. It seems that enhanced merchant fraud management systems and improved customer security habits are having an impact.”

Here are other key findings from the ACI report.

  • Mobile phones and accessories were the most popular, with transaction values almost doubling to 96% on day one.
  • The average value of buy now, pay later (BNPL) transactions rose almost 50% ($52), highlighting a trend towards splitting higher value items into more affordable installments. BNPL purchases also saw a record 99% approval rate.
  • There was a 25% increase in transaction volumes for mobile devices, compared with a 15% rise for non-mobile devices. Mobile device ATV was flat compared with 2021, while non-mobile grew by 8% or $9 – an indication that shoppers are becoming more comfortable with frequent mobile device purchases. However, non-mobile devices (i.e., desktops) still dominate bigger ticket items.
  • Traditional payment methods, credit and debit cards saw a 22% and 25% rise in transaction volume and value respectively. eWallet volumes saw a 4% increase primarily due to saved in-app card details.