Amazon Prime Day crushes records with $14.2 billion in sales
The 2024 edition of the Amazon Prime Day sales extravaganza seems to have struck a chord with consumers.
According to Adobe Analytics data from more than one trillion visits to U.S. retail sites, 100 million SKUs, and 18 product categories, during the 48-hour period of July 16-17, 2024, consumers spent $14.2 billion online, representing 11% growth year-over-year from $12.7 billion in 2023.
Sales totaled $7.2 billion on the first day of the promotion (July 16) and $7 billion on the second day (July 17), with Adobe analysis indicating most spending growth resulted from net new demand rather than inflation. Mobile devices drove nearly half (49.2%) of online purchases, with $7 billion spent on mobile devices across both days, up a significant 18.6% year-over-year.
Adobe singled out back-to-school shopping as a strong Prime Day growth driver, with the event occurring closer to the start of the school than in 2023 when it took place July 11-12. Spend for products such as backpacks, lunchboxes, stationery, and other school/office supplies were up 216% across both days compared to daily sales levels in June 2024, while spend for kid’s apparel rose 165% in the same time period.
Curbside pickup usage slightly declined to 18.9% of online orders across the event compared to 20.2% in 2023. Meanwhile, buy now, pay later orders accounted for 7.6% of all online orders, driving $1.08 billion of online spend and up 16.4% year-over-year.
Numerator: Average order size shows solid year-over-year gain
According to data from the Numerator Amazon Prime Day Tracker, the average order size during Prime Day 2024 was $57.97, up 7% from $54.05 during Prime Day 2023.
Numerator data also shows that six-in-10 households shopping Prime Day placed two or more separate orders, bringing the average household spend to roughly $152.33.
The top-selling items during Prime Day 2024 were Amazon Fire TV Sticks, premier protein shakes, and liquid IV packets. Nearly two-thirds of Prime Day items (63%) sold for under $20, while 4% were over $100, with the average spend per item totaling $28.06.
Numerator also examined demographic characteristics of the typical Prime Day 2024 shopper:
- The typical observed Amazon Prime Day shopper was a high-income suburban female age 35-44.
- 98% knew it was Prime Day before shopping.
- 88% were members of Amazon Prime.
- 85% had been Prime members for one year or more.
- 84% have shopped Prime Day in the past.
- 53% said Prime Day was their main reason for shopping.
[READ MORE: Retailers can’t beat Amazon Prime Day, so they should join the frenzy]
Amazon: Prime Day 2024 is biggest yet
Typically, Amazon does not release Prime Day-specific sales figures. However, the e-tail giant said Prime Day 2024 was its biggest Prime Day shopping event ever, with millions more Prime members shoppers than in 2023 driving record sales and more items sold during the two-day event than any previous Prime Day promotion.
During the 48-hour blockbuster, Amazon says Prime members globally saved billions of dollars on deals across every category. According to Amazon, a record-breaking number of customers signed up for Prime in the three weeks leading up to Prime Day.
"Prime Day 2024 was a huge success thanks to the millions of Prime members globally who turned to Amazon for fantastic deals, and our much-appreciated employees, delivery partners, and sellers around the world who helped bring the event to life for customers," said Doug Herrington, CEO of worldwide Amazon stores, in a corporate blog post. "We love helping Prime members save money, and Prime Day is the ultimate celebration of the savings, selection, and convenience that Prime membership provides customers looking for shopping, entertainment, food delivery, and more."
Salesforce: Sales, discounts and traffic rise
Salesforce analysis emailed to Chain Store Age reveals online sales in the U.S. during Prime Day grew 3% YoY, with global online sales remaining flat. However, web traffic increased 4% YoY in the U.S. and 2% YoY globally.
Heavy YoY discounting likely kept sales growth down. According to Salesforce, U.S. discounts rose 10% to an average discount rate of 22% and global discounts increased 8% to an average rate of 20%.
In commentary emailed to Chain Store Age, Rob Garf, VP and GM of Retail and Consumer Goods, Salesforce, said Amazon’s annual Prime Day event continues to create a halo effect for all retailers during the summer.
“Consumers swooped up big deals as they become increasingly focused on value,” said Garf. “Makeup, skincare, and apparel were the big winners as we head into the back-to-school season. Prime Day gives us a glimpse into what we can expect this holiday season. And retailers must be smiling. Online traffic and demand were up. And much of the online growth was based on people buying more, not just higher prices.”
