Key facts
- U.S. online shoppers spent over $26.4 billion during Amazon's Prime Day event from June 23-26.
- This represents a 9.3% year-over-year increase in spending.
- Experts link the spending to high inflation and consumers seeking deals on durable goods.
- The average order size declined to $47.66, down from $53.34 in the previous year.
- Discounts on electronics, apparel, and toys were similar to last year's event.
U.S. online shoppers spent over $26.4 billion during Amazon's annual Prime Day sales event, a 9.3% increase year-over-year, according to Adobe Analytics. Retail experts attribute this spending surge to persistent high inflation, prompting consumers to seek deals on more durable, discretionary items.
Strong discounts during the four-day event encouraged purchases of higher-priced goods such as electronics, appliances, and toys. Analysts suggest that tax refunds may have also provided a financial boost for these purchases, a factor that is less likely to influence spending in the fall and winter months. Shoppers also focused on stocking up on essential items like children's products and personal care items, indicating a strategy to buy necessities when offered at a discount.
Despite the overall increase in spending, data from Numerator suggests a potential weakening of consumer strength, as the average order size decreased to $47.66 from $53.34. Discounts offered during Prime Day were comparable to the previous year, with electronics, apparel, and toys seeing average discounts around 20-24%. Experts describe the current consumer as 'fatigued,' prioritizing deals over impulse buying.