What will Prime members spend on Prime Day?

A new survey reveals consumer plans for the upcoming Amazon Prime Day sales extravaganza.

Although there has not yet been a formal announcement, it is widely assumed Amazon will once again host its annual Prime Day sales holiday sometime during summer 2023. A new survey of more than 1,000 Prime members from performance marketing firm Tinuiti reveals that 80% of respondents plan to shop during Prime Day this year.

Among those respondents planning to shop, 52% said they plan to spend more than they did in 2022. One in five surveyed Prime members plan to spend over $200.

However, results also indicate that inflation remains a concern for many Amazon Prime members, with 54% of respondents saying it will discourage them from making certain purchases during Prime Day this year. This rate of respondents anticipating lower Prime Day spending due to inflation is down from 63% in a 2022 survey.

More than 20% of respondents say that Prime Day is very important to their decision of whether or not to be an Amazon Prime member, while about three-quarters say it is at least slightly important. One in 10 millennial respondents say Prime Day is the most important factor in their decision to be a Prime member.

Other interesting findings include:

• 20% of respondents who plan to shop during the Prime Day event will begin researching what products they might buy more than a week in advance.  Another 51% of respondents will begin researching products in the week before Prime Day.
• Prime members are most likely to use a general search engine like Google to determine if a Prime Day item is a good deal, with 54% of respondents doing so. About one-quarter (26%) of all respondents turn to social media for this purpose, but that rate jumps to 46% among Gen Z Prime Day shoppers.

Prime Day 2022 breaks records with almost $12 billion in sales

Prime Day has become a big business event. According to Adobe Digital Economy Index data, total U.S. online spend across retailers reached an all-time high of $11.9 billion (including $6 billion on day one and $5.9 billion on day two), representing 8.5% growth compared to $11 billion in Prime Day total online revenue in 2021.

Other interesting Prime Day 2022 trends observed by Adobe include:

• Discount levels were consistent across both days. Discounts for toys (15%) and apparel (12%) remained the strongest. Categories that also saw noteworthy discounts included electronics (6%), TVs (3%), and computers (8%). 
• Average online revenue lift across the U.S. was 141% compared to an average July day.