Analysts estimate single-digit growth for all retailers during Prime Day sales – TechCrunch

The annual Amazon Prime Day sales event has generated more than $12 billion in sales, according to third-party estimates. The retailer held the popular shopping event in the United States and more than 15 other countries around the world from July 13-15. It was the first Prime Day event under new CEO Andy Jassy, ​​who took over Jeff Bezos last year after the Amazon founder stepped down.

The company was bullish on its Prime Day results and said it was the “best ever,” citing consumers worldwide 1.7 billion. Amazon claimed to have sold more than 300 million items during those sales, but did not disclose any revenue figures.

He also noted that it sold “more devices than any other Prime Day,” but declined to assign a number. The company said shoppers bought more than $3 billion worth of merchandise from more than 100 million small business items during the two-day event.

For weeks before Prime Day, Amazon relied on influencers to drive sales from QVC-style live video purchases. The company has partnered with celebrities such as TikTok creators Joe and Frank Mele, Porsha Williams of “The Real Housewives of Atlanta”, “Selling Sunset” star Chrishell Stause, comedian Kevin Hart and Australian model Miranda Kerr. The company said these live streams generated more than 100 million views, but did not highlight how much sales they generated.

A report from The Information paints a different picture: it said some videos from some of its top influencers failed to attract more than 4,000 live viewers. Amazon isn’t the only one struggling with live commerce. Earlier this month, Financial Times reported that TikTok was scaling back plans to buy live videos in the US and Europe.

Amazon has not commented on revenue or sales figures recorded during Prime Day or through Amazon Live experiences.

Amazon Live Prime Day

Picture credits: Amazon

Since Amazon doesn’t disclose its Prime Day sales numbers, we have to rely on analysts and third-party data to paint a picture of how sales for the event fared.

Analysts estimated that Amazon sold gross merchandise between $12.09 billion and $12.59 billion from Prime Day sales worldwide. It is important to note that some countries like India, Saudi Arabia, Egypt and the United Arab Emirates have not yet held Prime Day sales.

Additionally, a Salesforce report noted that global sales for retailers selling goods on their own sites increased 8% year-over-year for Tuesday and Wednesday of the second week of July. But sales numbers from non-Amazon sites overall fell 12% from Prime Day 2021.

As usual, major US-based retailers took advantage of Amazon’s Prime Day to offer their own discounts, encouraging consumers to splurge more in an inflation-driven market that has seen prices of different items increase lately.

A study by Adobe Digital Economy Index found that total online spending in the United States among online retailers reached $11.9 billion, an increase of 8% from last year, which had spent $11 billion. He noted that the second day of Prime Day sales generated more than $5.9 billion, recording 9.2% growth from the second day of last year, which generated $5.4 billion. .

“With the second Prime Day also seeing strong increases, retailers were able to generate around $12 billion in online spend, over the two-day event. It’s evident that consumers are incredibly price-conscious, and it will be important for retailers to leverage price effectively to unlock new growth potential online,” said Pat Brown, vice president of Adobe.

Additionally, data group Numerator released its own study based on nearly 59,000 Prime Day orders and a survey of more than 4,800 shoppers, which reported that the average order size fell from $44.75 l year at $52.26 on Prime Day sales. He noted that 65% of shoppers who shopped on both days spent the same amount or less than last year.

The company’s study highlighted some numbers indicating that Amazon’s influence on Prime Day sales may have diminished a bit. 24% of shoppers purchased from another retailer, up from 20% last year; 44% of people only considered Amazon this year compared to 52% last year; and 34% of people checked prices at other retailers before making a purchase, up from 33% last year.

Picture credits: Numerator (Opens in a new window)

These studies indicate that inflation has affected Prime Day sales and that retailers may not have seen a major increase in sales compared to last year.

Amazon has had a tough year as its stock price fell from around $181 a year ago to $110 at the time of writing. It’s important for the company to boost sales, so much so that it could hold another Prime Day later this year. This year, workers at the company also raised questions about workplace safety and wages during the Prime Day sales rush.

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