The news: We expect Amazon’s Prime Day sales event this week will generate $12.52 billion in worldwide revenues this year, a year-over-year (YoY) gain of 17.0%, per our new forecast.
An established event: Given the frequency with which consumers shop Amazon, the retailer has an easier time than other merchants promoting its sale. Nearly half, 49%, of Amazon shoppers with knowledge of the sale learned of the event while on Amazon.com or the retailer’s mobile app. Another 28% found out through a TV commercial, and 27% learned from social media, per Numerator.
The halo effect: Prime Day typically creates a halo effect as it drives consumers to shop online—both on Amazon and at other retailers, many of which offer their own sales events.
The big takeaway: While it may not have the luster it once did, Prime Day remains a massive sales event that will deliver solid third-quarter growth for Amazon and the many merchants that sell on its platform.
“Consumer spending remains solid, despite inflation,” said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence. “We expect inflation will actually drive more deal-seeking behavior and generate a bit more excitement about the event this year, which will also benefit from better timing than last year.”
Go further: Read our Prime Day report here.
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