Up and to the Right: Prime Day 2023 Results, Trends, and More
The Prime Day dust has settled and the results are in! Read on to find out whose predictions came true, and how your brand’s results stack up!
As analysts compile the results of Amazon Prime Day 2023, a few important trends are becoming apparent. According to data from Adobe Analytics, on the first day of Amazon’s two-day Prime Day event, U.S. sales rose almost 6% from 2022 to $6.4 billion.
That first (Prime) day was a particularly impressive number because it represented the single biggest ecommerce day so far in 2023.
Adobe’s data indicated that sales were driven by a few key categories, including appliances with a 37% jump, toys at 27%, and apparel with a 26% climb. Electronics, a high visibility category also rose 12%.
After the second day of Prime sales, data firm Numerator revealed that the average Prime Day spend per order was $56.64, up from $53.14 in the same reporting period on Prime Day 2022,
New financial alternatives continued to be a significant ecommerce sales lever with data from Adobe showing that Buy Now Pay Later (BNPL) orders accounted for 6.4% of online orders and drove $461 million in revenue, up 19.5% compared to the first day of Prime Day last year.
Following up on that first day, shoppers spent $6.3 billion on the second 24 hours of Amazon’s Prime Day sales. According to data released on Thursday by Adobe Analytics, that nearly doubled sales figures with U.S. online sales rising 6.1% to $12.7 billion from last year.
More Than 375 Million Items Worldwide Purchased
“The first day of Prime Day, July 11, was the single largest sales day in company history. Prime members purchased more than 375 million items worldwide and saved more than $2.5 billion on millions of deals across the Amazon store, helping make it the biggest Prime Day event ever,” said Doug Herrington, CEO of Amazon Stores.
Tech and electronics are categories that always get a lot of attention and that was true again this year. Still, there have been signs that there’s a shift taking place as Amazon attempts to coax consumer buying patterns in a favorable direction (for Amazon).
Here’s what was new from Amazon for Prime Day 2023:
- Amazon is offering discounts to drive traffic to its various store concepts, including Amazon Style and Amazon Go.
- Shoppers who visited an Amazon Fresh store during Prime Day received 25% off their purchases, while those who ordered from Amazon Fresh online got $20 off purchases of $100 or more.
- Amazon also teamed up with Priceline to offer (for the first time ever) exclusive travel discounts.
Canopy Management Celebrates a Partner’s $2.2 Million in Wins
It wasn’t just Amazon itself that was celebrating wins over Prime Day. Canopy Management’s Partner Brands also enjoyed an exciting two days of wins. One Partner in the pet category had a stunning 27x ROAS using the following strategies, contributing to skyrocketing profits:
- Closely monitored dayparting PPC spend
- The implementation of virtual bundles
- Strategic long-range PPC initiatives
- A consistent build up of new-to-brand customer acquisition
- Online video ads that increasingly led to conversions
- Remarketing campaigns to help nudge eventual buyers
Over the two days of selling, this brand’s premium products flew off of the shelves. The rapid pace of sales was responsible for having gained multiple BSR tags throughout the day, and resulted in 2.2 million in total sales on the first day alone.
In the end, brands that had the best Prime Day will have been those with the best combination of overall strategy and tight execution. If you’d like help developing a winning Amazon strategy for the upcoming Prime Fall Deal Event and beyond, reach out to one of our friendly Prime Day experts by clicking here.
