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Prime Day Shopping and Spending By the Numbers


Amazon Prime Day is coming up fast (in July, according to a press release). It’s one of the biggest shopping (and savings!) events of the year. 

But with inflation becoming another “new normal” for shoppers to contend with (after the pandemic and months of supply-chain issues), shoppers plan to tighten their Prime Day budgets this year. That’s according to our survey of 1,137 American adults we conducted to get a read on how shoppers are approaching Prime Day 2022.

Consumers Ready to Shop Prime Day, But Plan to Spend Less

Amazon Prime Day is for Prime members only – but most Americans do have a Prime membership (65% do, according to our survey). And Amazon’s decision to raise the price of membership hasn’t resulted in people ditching Prime; 95% of those we surveyed are keeping their Prime memberships. 

That Prime loyalty translates into shoppers showing up for Amazon’s big party – 88% of those who have Prime memberships say they’ll shop on Prime Day this year. However, while they’ll be showing up at the party, they’re not going as big. The average Prime Day shopper plans to spend $388 on Prime Day this year, a stark drop-off from 2021, when we saw an average planned Prime Day spend of $594

This may point to stressed budgets due to inflation and is in line with the findings in another recent RetailMeNot survey, in which shoppers told us they plan to cut back across a variety of categories, including on personal shopping. Prime Day has been growing in terms of dollars spent every year since its inception. If that plateaus this year, that will show just how big of an impact inflation has had on American shoppers. 

There’s still a lot of hype around Prime Day, though. Of that planned $388 spend, consumers plan to shell out the lion’s share ($233) at Amazon and $155 at other retailers offering their own promotions during Prime Day. Plus, almost half (47%) of consumers say they will wait until Prime Day to make their biggest purchases of the year. 

What Shoppers Plan to Buy on Prime Day

Prime Day’s mid-summer placement makes it ideal for finding early back-to-school deals. In fact, of those who plan to shop for back-to-school this year, 85% say they plan to shop for school items during Prime Day.

Just like last year, we see clothing (likely influenced by back-to-school shopping needs) and electronics dominate Prime Day 2022 shopping lists. Meanwhile, we saw home decor slide down shopping lists, which tracks with the waning interest in home goods that other retailers have flagged.

Amazon Prime Day Purchases 2021 2022
Apparel (clothing/shoes) 38% 35%
Home décor  24% 19% ↓
Cleaning supplies  18% 17%
Kitchen appliances  18% 15%
At-home fitness equipment  13% 8% ↓
Laptops or computers  18% 17%
Headphones  22% 17% ↓
Amazon electronics  Not asked 15%
Video games & consoles  19% 14% ↓
TVs 16% 12% ↓
Smart speakers  15% 10%
Smart watches  13% 9%

Prime Day Retail Trends

Is Prime Day worth shopping even if your budget is tight? That depends on what you’re looking for. Over the past several years, Prime Day has consistently demonstrated that it’s a mid-year Black Friday when it comes to tech. Amazon’s Prime Day pricing has consistently matched (or even beaten) the most recent Black Friday’s prices on key items (smart home speakers, tablets, smart security tech and robot vacuums). We expect this to happen again, even with inflation. Amazon has a track record to maintain of offering lowest-of-the-year pricing on popular tech products during Prime Day, especially its own products. We suggest putting Prime Day on your calendar if you’re shopping for:

  • Echo devices (speakers and screens).
  • Ring Doorbells.
  • Amazon Fire Tablets.
  • Pressure cookers.
  • iRobot and Shark vacuums. 
  • Wireless headphones.

However, the advantages of shopping on Prime Day have been less clear-cut when it comes to clothing – we often see the retailer offering very specific deals on very specific items (one color might be on sale, while another is at full price, for example). TVs also have a mixed track record, and we typically see a wider variety of sets on sale during Black Friday. 

It’s also important for shoppers to remember that Amazon Prime Day won’t be the only sale in town. RetailMeNot estimated that, last year, as many as 313 other retailers promoted sales around Prime Day and that as many as 350 other retailers did so in 2020. Timing varied among the competitors, with some kicking off their sales just before Prime Day, some running their sales a few days after and many offering deals right on top of Prime Day. So suffice it to say that shoppers can expect a wave of sales the week of Amazon Prime Day.

RetailMeNot Prime Day Shopping Tips to Save the Most

Prime Day can be overwhelming, so use these tips to cut through the noise to the best deals:

  • Do Some Pre-Shopping Prep Work: Add desired items to your cart beforehand to make sure you get everything you’ve had your eye on and monitor any price changes to the items in your cart. This also lets you check out swiftly and not miss out on deals.
  • Utilize Price Tracking: Price trackers are the easiest way to monitor just how good a deal really is, especially for big-ticket items. By adding an Amazon price-tracking browser extension like camelcamelcamel or keepa, you’ll be able to easily monitor the prices of your most-wanted products as well as get price-drop alerts so that you never miss a deal. 
  • Install RetailMeNot Deal Finder Browser Extension: Prime Day or not, installing an automatic savings tracker like RetailMeNot’s Deal Finder is the easiest way to save each and every time you check out. It finds and automatically enters promo codes for you. While Amazon rarely offers promo codes (instead opting for direct price cuts on specific items), plenty of its competitors do. So, if you’re not a Prime member, or if you find a better price at another retailer, you don’t have to hunt down the promo code that gets you an even better price.
  • Download the Amazon App: Tap the “heart” icon on the items you want, and you’ll get push alerts when those items go on sale. That way, you can snag deals on the go. 
  • Turn On One-Click Ordering: If you’re like the many shoppers who wait for Prime Day to purchase big-ticket items like TVs, laptops and other tech, turn on one-click shopping to ensure a quick checkout.
  • Ask Your Smart Speaker for Help: Amazon has been known to offer shoppers exclusive deals (or early access) if they shop via an Echo device.

Methodology

Ziff Media Group trends survey performed by Alchemer April 28-29, 2022. N = 1,137.

The post Prime Day Shopping and Spending By the Numbers appeared first on The Real Deal by RetailMeNot.



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