- Amazon, the world’s largest e-tailer, confirmed it would have the 2023 Prime Day frenzy on July 11-12.
- Last year’s Prime Day was Amazon’s biggest yet, with 300 million items sold worldwide, despite decreased user spending.
- The top product categories shoppers are expected to splurge on this Prime Day include electronics, clothing and apparel, beauty and skincare products, and more.
Amazon’s mid-year summer shopping season is upon us. The world’s largest e-tailer confirmed it would have the 2023 Prime Day frenzy on July 11-12. The savings festival is exclusive to Amazon Prime members and is expected to generate millions of dollars worth of sales.
Prime Day 2022 was Amazon’s biggest yet, with 300 million items sold worldwide, despite decreased user spending owing to inflationary pressures from the ongoing conflict in Ukraine and, consequently, the Fed hiking interest rates.
Globally, Prime members ordered more than 100,000 items per minute during Prime Day 2022. Prime Day 2023 should surpass last year’s numbers.
When Is Prime Day?
Like most Prime Days, except for the first two in 2015 and 2016, the 2023 Amazon Prime Day is a two-day event scheduled to begin at 12:01 AM PT (3:01 AM ET) on Tuesday, July 11, 2023, and run through the following 48 hours.
Users should get new deals every 30 minutes during select periods throughout two days.
To those closely watching this year’s shopping extravaganza, here’s a cheat code: In the U.S., Prime members made the most of the Prime Day deals on Day 2 between 8 PM and 9 PM PT., while Amazon’s global Prime members shopped the most between 9 AM and 10 AM PT on Day 1.
Prime Day Business Over the Years
Besides helping Amazon get more Prime memberships, Prime Days are a boon for businesses to gain visibility and increase sales. Here’s how Prime Days looked over the past eight years:
Source: eStore Factory
|
Prime Day |
Duration | Total Sales | Small Business Sales | No. of Items Sold | Cumulative Member Savings |
Prime Members (U.S. Only) |
|
2015 |
24 hours | $0.9 Billion | NA | 34.4 million | NA | ~54 million |
| 2016 | 24 hours | $1.45 billion | NA | ~42 million | NA |
~65 million |
|
2017 |
30 hours | $2.3 billion+ | NA | NA | NA |
~99 million |
|
2018 |
36 hours | $4.1 billion+ | $1.5 billion+ | 100 million | NA |
~112 million |
|
2019 |
48 hours | $7.1 billion+ | $2 billion+ | 175 million | $1 billion | ~124 million |
| 2020 | 48 hours | $10.3 billion+ | $3.5 billion | NA | $1.4 billion |
~142 million |
|
2021 |
48 hours | $11 billion+ | NA | 250 million | NA | ~151 million |
| 2022 | 48 hours | $12 billion+ | NA | 300 million | $1.7 billion |
~157 million |
Note that Prime Member stats are for the U.S. Amazon last shared Prime membership count in Q1 2020 (200 million) and Q1 2018 (100 million).
Between 2015 and 2022, the top five product categories that generated the most revenue on Prime Days were:
- Household Essentials (29%)
- Health & Beauty (28%)
- Consumer Electronics (27%)
- Apparel & Shoes (25%)
- Home & Garden (22%)
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What To Expect From Prime Day 2023?
Averaging out the data from the previous eight Prime Days points to more than a 47% rise (to $17.69 billion) in total sales on Prime Day 2023. However, sales are rarely a function of the derived mean from previous data and are influenced by several broader macroeconomic factors and personal finance.
A RetailMeNot survey found 63% of Americans have a Prime membership with Amazon, 2% less than last year. The survey found that 96% of Amazon Prime members have shopped on Prime Day in previous years or plan to shop for the first time this year.
Yet, the average shopping spend by Prime members is expected to be $250 on Prime Day 2023 (including at other retailers), down by 35.56% from $388 in 2022 and by 57.91% from $594 in 2021, RetailMeNot found, possibly to beat the inflation.
“That said, planned spending differs from the actual spending that happens when deals start flying. Prime Day has been growing in terms of dollars spent every year since its inception, including last year, when consumers told us they planned to dial their spending back,†RetailMeNot noted.
Where will shoppers spend the most on Prime Day 2023?
The top product categories shoppers are expected to splurge on include:
|
Product Category |
Percentage of Shoppers | Product Category |
Percentage of Shoppers |
|
Electronics |
59% | Amazon Devices | 18% |
| Clothing, shoes, and apparel | 49% | Books, e-books & audiobooks |
18% |
|
Beauty and skincare supplies |
24% | Tablets or e-readers | 16% |
| Bedding, linens, and towels | 24% | Video games/consoles |
15% |
|
Headphones |
23% | Smart speakers | 14% |
| Home decor | 22% | TVs |
14% |
|
Kitchen appliances and bakeware |
19% | Smart home products | 12% |
| Laptops or computers | 18% |
See More: How to Leverage Emotional Intelligence to Boost Sales Engagement
Best Prime Day deals this year
This year, expect deals on consumer electronic devices and accessories from Sony, Beats, Bose, iRobot, and more. Those looking for a new smartphone for personal use or employees should watch for the new Google Pixels.
Gamers can track Steam Deck, Nintendo Switch, Asus ROG series, and accessories, including SSDs, keyboards, headphones, and other peripherals.
Of course, Amazon devices such as the Echo line of smart speakers, Kindle e-readers, Fire sticks, and more should be available at discounted prices. Meanwhile, the start of the school year should also allow both students and businesses to stock up on stationery and other office supplies.
Additionally, members can avail of the following two early deals:
- From July 3 through July 10, an eGift Card purchase worth $50 or more entails a $5 credit by Amazon Gift Cards.
- Between June 21 and July 10, Prime members who spend $50 or more at Amazon Fresh stores are entitled to a 20% discount for in-store purchases.
Similar deals should come up on the Amazon website as Prime Day nears.
Further, Amazon is also trying out Prime Day invite-only deals this year. Members must request an invite-only deal; if selected, they will get a confirmation email from the e-tailer.
What do you plan to buy this Prime Day? Let us know on LinkedInOpens a new window , TwitterOpens a new window , or FacebookOpens a new window . We’d love to hear from you!
Image source: Shutterstock
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