Recession fears be damned. Shoppers came out in force for Prime Day 2023.
Amazon says the two-day summer sale event resulted in 375 million items sold and was its biggest ever, with the first day setting a new corporate record as the single largest sales day in the company’s history.
Fire TV Stick, LANEIGE Lip Glowy Balm, Apple AirPods, and Bissell Little Green Portable Deep Cleaner were among the top-selling items, the company said.
There are more than 200 million paid Prime members in 25 countries.
Amazon doesn’t put dollar figures in its Prime Day wrap ups, but an independent study by Adobe Analytics highlights how big Prime Day 2023 was. That report estimates consumers in the U.S. alone spent $12.7 billion over the two-day event, a 6.1% increase over last year.
One interesting note: A growing number of consumers took advantage of Amazon’s version of layaway, called “Buy Now Pay Later.” On Wednesday, that option accounted for 6.6% of orders, a 21% jump over last year, says Adobe.
“For months, consumers have felt the effects of persistent inflation and an uncertain economic environment, and it has pushed shoppers to embrace more flexible ways to manage their spending around the Prime Day event,” said Vivek Pandya, lead analyst, Adobe Digital Insights. “The revenue growth attributed to Buy Now Pay Later is a preview of what we can expect in the months ahead, especially as we near the holiday shopping season.”
The bump in sales is a validation of Amazon’s changes to this year’s Prime Day. The company put a greater emphasis on personalization, offering shoppers deals that were closely related to their browsing history and tied to their wishlists. The company also tweaked its app, recognizing that the majority of buyers were using mobile devices to explore deals, alerting users when a lightning deal for something on their wish list kicks off. Those notifications will continue beyond Prime Day.
