Shoppers are reportedly opting for affordable items during Amazon’s fall sale for Prime subscribers.
Early data from the retailer’s Prime Big Deal Days event reveals that price-conscious shoppers are primarily gravitating towards low-cost kitchen gadgets and apparel instead of splurging on big-ticket items, Bloomberg reported Tuesday (Oct. 10).
During the first eight hours of the retailer’s Prime Big Deal Days, customers spent an average of $38, marking a 2% increase compared to the same period last year, the report said, citing figures from research firm Attain, which analyzes credit card transactions.
Research firm Numerator also analyzed sale data and found that approximately 60% of the items sold cost less than $20, while only 3% exceeded $100, per the report. Top-selling items during the fall sale include Amazon-branded batteries. These figures were derived from data collected from 890 shoppers who placed 1,379 orders.
Consumers appear eager to start their holiday spending early, provided they find the discounts compelling, according to the report. A survey conducted by RetailMeNot, an online deals monitor, revealed that 64% of shoppers plan to begin their holiday shopping in October, compared to 53% last year.
Among those surveyed by RetailMeNot, 58% expressed intentions to shop during Amazon’s Big Deal Days, with an average planned expenditure of $154, the report said. This amount is approximately $100 less than what respondents planned to spend during the Prime Day sale in July.
Consumers are currently grappling with persistent inflation, which has led to increased debt obligations and reduced savings, according to the report. The resumption of student loan payments, previously suspended during the pandemic, is expected to further impact spending.
Despite these challenges, Adobe predicts that online sales in November and December will rise by 4.8% to $222 billion, surpassing last year’s growth rate of 3.5%, the report said. However, this projection falls significantly short of the pre-pandemic level of 13% growth achieved in 2019.
Amazon’s Prime Big Deal Days event, taking place Tuesday (Oct. 10) and Wednesday (Oct. 11), is a sequel to the company’s Prime Day event and gives Prime members exclusive access to “some of Amazon’s best deals of the season,” the company said when previewing the event.
The retailer said in September that it plans to hire 250,000 employees across the United States for the holiday season. The retailer is looking to add full-time, part-time and seasonal positions in fulfillment centers and transportation roles.