For Amazon.com, it is déjà vu for Prime Days all over again. On Oct. 10 and 11, Amazon kicks off its Amazon Prime Big Deal Days, a fall event rooted in what Amazon says are great deals for its Prime members. And customers look to get an even earlier jump on their online holiday shopping.
Amazon is betting that Prime members will spend heavily on deeply discounted items. It looks to lure web shoppers in with deals that range from seasonal decor starting as low as $6 to invitation-only deals like 60% off 50-inch smart TVs and savings on brand names such as up to 50% off Sony products and 30% off Lego items.
But exactly what Prime members are looking to purchase and how much they will spend will vary widely by age, income, and other factors, says new research from market research company Numerator and industry survey.
Amazon is No. 1 in the Top 1000, Digital Commerce 360’s ranking of the largest North American online retailers. Amazon is also No. 3 in Digital Commerce 360’s Global Online Marketplaces Database. It ranks the 100 largest such marketplaces by 2023 third-party GMV.
Amazon Big Deal Days closely precede holiday sales period
Nearly one-third of all consumers are expected to shop online during Amazon Prime Big Deal Days. While those won’t be as big as the 37% of consumers that shopped and bought this summer during Amazon Prime days, Prime Deal Days will “bring a significant boost to ecommerce sales in general, “with the first day of the sale potentially surpassing Cyber Monday in online shopping,” Numerator says.
Other research firms also suggest that while Amazon Prime Big Deal Days will generate big business for Amazon and other big chain retailers this week, many budget-conscious shoppers will choose to shop later and closer to online retailing’s biggest days: Black Friday and Cyber Monday.
Nearly half (44%) of consumers who plan on shopping during the 2023 winter holiday season say they plan to do so during a preseason sales event like Amazon Prime Big Deal Days, says research firm Mintel.
Shoppers remain budget-conscious
But Black Friday and Cyber Monday remain popular (45%) as consumers’ budget-focused mindset continues, says Mintel.
“Over a quarter (28%) of winter holiday shoppers agree that it is even more critical to shop on Black Friday or Cyber Monday because of inflation/rising prices,” Mintel says. “When asked how inflation impacts their spending, 42% of winter holiday shoppers say they purchase fewer gifts, while a quarter (24%) say they switch to lower-priced retailers.”
Even with Amazon and other retailers pushing big deals and deep discounts this week, consumers may remain more budget-minded than in earlier years, Mintel says. Three in five (59%) consumers who plan to do winter holiday shopping in 2023 say they want to spend the least amount of money possible, says Mintel.
“Consumers will participate more in preseason shopping sales, such as Amazon Prime Day, to take advantage of the deals and discounts,” says Mintel retail and ecommerce analyst Brittany Steiger. “They remain value-conscious and look to spend as little as possible.”
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