Amazon’s 10th annual Prime Day will top $14bn this July, forecasts Parcelhero
Amazon has confirmed that its next ‘members only’ Prime Day sale will take place this July. The home delivery expert Parcelhero predicts the event will be the biggest Prime Day yet, with sales reaching $14bn (£11.08bn).
Although Amazon has not yet named the actual dates, Parcelhero says bargain hunters should pencil in 9-10 July in their diaries.
Parcelhero’s Head of Consumer Research, David Jinks says: ‘Amazon Prime Day kicked off in 2015 and, despite its name, has been a 2-day event since 2017. The event was created to mark Amazon’s 20th birthday and saw sales of a now humble-looking $0.9bn but, every year since, sales have risen. Last year, global Prime Day sales reached almost $12.9bn, up 6.7% on 2022’s $12bn.
‘Given the rise in consumer sentiment over the last 12 months, we expect an uptick on last year’s 6.7% sales increase, with sales looking set to climb 8.6% to reach $14bn.
‘Our figures also suggest that Brits alone spent around £1.15bn ($1.45bn) during last year’s sale and, providing this year’s bargains are as juicy, we believe that will rise to £1.25bn ($1.58bn) this time around.
‘Intriguingly, it will be the first significant Prime event to follow Amazon’s controversial decision to introduce adverts on its Prime Video streaming movie and TV channel back in February. If the backlash prompted thousands to cancel their Prime memberships, as some press reports suggested, we will see a corresponding fall in sales. In fact, as we said at the time, free next-day deliveries are Prime Membership’s prime attraction, which means the vast majority of subscribers won’t have hit cancel.
‘The event allows Prime Members to bag some hefty bargains, with many items – particularly Amazon’s own products such as Fire TV, Echo Dot, Kindle and Fire Tablet – slashed by 60% or more. In many cases, the prices are markedly cheaper than even its Black Friday deals, as Amazon tempts buyers to splash their summer cash. The retailer’s marketplace sellers also offer very tempting bargains to boost sales during the dry summer period, although these are not as consistently competitive as their best Black Friday bargains.
‘Members purchased more than 375 million items worldwide from Amazon during the 2023 event. That was up from 300 million in 2022. However, it is not just Amazon that rakes in the money. There is also a trickle-down effect. As shoppers’ primal hunting instincts take over, many other retailers hold attractive sales during the same two days.
In the US, Walmart, Target and Costco all have their own events and here in the UK many retailers also feature some tempting deals. That’s clever thinking, as a recent survey of shoppers in the UK and EU by Criteo revealed that 58% of Prime Day shoppers compared Amazon’s offers with those of other retailers in a bid to find the lowest possible prices.
Parcelhero’s report on the future of Amazon can be seen here: https://www.parcelhero.com/
