Amazon Prime Day sales rise as deep discounts tempt inflation-hit shoppers

economictimes.indiatimes.com:

Prime Day two-day shopping event saw U.S. online sales rise nearly 6% to $6.4 billion from a year ago on its first day, as heavy discounts lured bargain-hunting customers who splurged on appliances and toys, Adobe Analytics data on Wednesday showed. U.S.

shoppers have been waiting for the best possible deals and discounts as rising interest rates and food prices have led them to delay purchases of big-ticket items in recent months. Online sales for appliances jumped 37% compared to average daily sales in June, while sales of toys rose 27% on the first day of the sales event. Data firm Numerator said the average Prime Day spend per order rose to $56.64 from $53.14 a year ago.

Adobe Digital Insights expects Amazon's event to rake in between $12 billion and $13 billion. Amazon did not immediately respond to a request for comment. To add more customers, Amazon has partnered with travel booking site Priceline to offer discounts as U.S.

consumers prioritize experiences over non-essential spending. In the weeks leading to Prime Day on July 11-12, members of the loyalty program were given access to «invite-only deals» where shoppers could request invites to specific products that they were looking to purchase on deals. Rival retailers, including Walmart, Target and Best Buy, are also offering large discounts during the Prime Day week.

Walmart is also using the week as a way to lure more customers to its subscription program Walmart+ by offering 50% discount on annual membership sign-ups. Rob Garf, vice president and general manager of retail at Salesforce, said that shoppers have now been conditioned to compare deals from various retailers during Prime Day week, meaning rising competition for Amazon. Garf said that although