Prime Day has done it again! This year, Amazon’s Prime Day was its biggest yet - breaking sales records and bringing in billions of dollars. Apart from Prime Day making it to the top of our news list this week, there were plenty of other headlines related to the retail and e-commerce industry that made us sit up and take notice.
In 2023, the sales for Prime Day increased to $12.7 billion compared to $11.9 billion in 2022.
On the first day of Amazon's Prime Day event, US consumers spent $6.4 billion.
Roku has added Shopify integration, which allows viewers to make purchases directly from ads displayed on their screens.
The top 100 marketplaces experienced a growth of 2.9% in 2022, resulting in a total worth of $3.2 trillion.
The Amazon Corner
Prime Day Sneak Peek: Amazon Prime Day Sales Increased to $12.7 Billion
So...Prime Day did it again. This year Amazon's Prime Day sales hit a record high of $12.78 billion - an all-time high for the company! Not only did this event bring in big bucks, here are a few more insights from the recent Prime Day:
The total sales for the two-day event, Prime Day, were $12.7 billion, which is a new record. This amount is 6.1% higher than the $11.9 billion in sales in 2022. However, the growth rate of 6.1% is lower than the expected growth rate of 9.5%, as forecasted by Adobe.
During Amazon Prime Day, customers mainly spent their money on purchasing household items. As compared to an average day in June, the sales of appliances grew by 52%. In addition to this, there was also a noticeable increase in the sales of housekeeping supplies (27%) and apparel (24%).
6.4% of all orders were made using buy-now-pay-later (BNPL) services. These orders generated $461 million in revenue, a 19.5% increase from the first day of the sale in 2022.
Time for a Shopping Spree: US consumers spent $6.4 billion on the First Day of Prime Day
Photo Credit: David Paul Morris/Bloomberg / Getty Images
Shoppers' FOMO! The first day of Amazon's Prime Day saw US consumers spending an estimated $6.4 billion, a record-breaking amount! This is the largest e-commerce day of 2023 thus far.
According to Adobe, sales in certain categories contributed to the overall increase. Appliances had a 37% surge compared to the average daily sales of June. Additionally, there was an increase of 27% in toy sales and 26% in apparel sales. Electronics also saw a noticeable jump, with a 12% increase in sales.
According to Numerator, the average amount spent per order on Prime Day has increased from $53.14 during the same reporting period in 2022 to $56.64.
Cool Shopping On Tap: Roku Has integrated Shopify to Allow for Buying Products Directly from Ads on the Screen
Photo Credit: MediaPost
Milestone unlocked! Roku has collaborated with Shopify to enable users of Roku streaming devices to buy products from Shopify merchants directly from their TV screens through Roku Action Ads.
Shopify merchants now have access to a commerce integration on TV streaming for the first time. This extension builds upon the current commerce relationship between the two companies. Roku adds that Shopify advertisers can gain more customer data and insights into purchase patterns through the on-screen purchase feature, in addition to accessing Roku's audience at point-of-sale.
Viewers watching Roku can press "OK" on their remotes when a Shopify merchant ad appears. This will allow them to learn more about the product, purchase it with an on-screen function, use Roku Pay to check out, and receive an order confirmation through email from the merchant. They can then continue watching their streamed programming.
Ride the Wave: Collective Value of the Top 100 Marketplaces Increased by 2.9% in 2022
Unlock your piece of the $3.2 trillion pie. Thisyear, the global marketplaces' total GMV saw a significant rise, mainly due to the increase in first-party sales on hybrid marketplaces. This means that marketplaces selling their own products and those of participating merchants were the primary drivers of growth. Here are some findings from the report:
The highest volume of sales on marketplaces comes from manufacturers of consumer brands.
The past two years, almost half (47.5%) of the digitally native brands, which means brands created specifically for the internet, have sold their products on marketplaces.
In 2022, marketplaces such as GOAT and Flight Club, which specialize in certain products such as sneakers, are among the most successful marketplaces overall.
Try this.Improve your product experience by paying attention to important details such as product title, price, quality, color, description, promotions, reviews, and more. This will not only boost the likelihood of making a sale but also enhance your keyword quality score.
FUN FACT
33% of small businesses in America do not have a website.
LISTEN UP
While having a strong sales process is essential, it’s only half of the equation. To truly unlock potential growth, businesses must focus on the post-purchase flow as well.
On this 94th episode of The E-Comm Show, Andrew chats with Ruth Evan Haim, Cofounder of ReConvert, on how to optimize your post-purchase flow, when to make your upsells and cross-sells, and tips to make effective product recommendations to customers.
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