Prime Day 2023 was a record-setting event. According to Adobe Analytics, the 48-hour sale generated $12.7 billion in revenue worldwide, a 6.1% increase from the previous year. Amazon reported that July 11th was its single largest sales day in company history. In total, customers purchased more than 375 million items during Prime Day 2023.
Channel Key Client Performance on Prime Day 2023
Prime Day 2023 also set records for Channel Key. The mega sale was the highest-performing 48-hour period in Channel Key history. In total, our brand partners generated approximately $3.1 million during the 48-hour sale (not including Vendor Central). Below is a sample of year-over-year sales spikes for Channel Key clients in various categories:
- Automotive: 173% YoY Increase
- Home & Kitchen: 587% YoY Increase
- Outdoor: 526% YoY Increase
- Books: 154% YoY Increase
- Games: 224% YoY Increase
- Apparel: 199% YoY Increase
- Sports Nutrition: 176% YoY Increase
- Cooking: 216% YoY Increase
- Office: 154% YoY Increase
- Pet Supplies: 86% YoY Increase
In alignment with our recommendations, Prime Exclusive Discounts were the top-performing Prime Day promotions for Channel Key clients. Coupons also generated strong results, as seen in the charts below.
Top-Selling Categories for Prime Day 2023
Amid fears of inflation, Amazon focused on bigger and better deals than previous Prime Day events. Amazon reportedly offered the most deals on small business products than any other sale event. Many brands increased their average daily sales on Amazon by over 18x during day one of Prime Day compared to the previous six months.
According to Numerator, the average order size during Prime Day 2023 was $54.05, up from $52.26 during Prime Day 2022. About 65% of households that participated in Prime Day placed more than two orders, bringing the average household spend to about $155.67. Below is an early read of the top-performing categories during Prime Day 2023 based on Numerator data.
Additional Callouts for Prime Day 2023
- Buy Now Pay Later orders accounted for 6.4% of all Prime Day orders and drove $927 million in sales, a 19.5% increase from the first day of Prime Day 2022
- Sales on smartphones drove 43.7% of sales, up from 42.7% last year
- Brands who took part in Prime Day saw a 10x increase in daily Buy with Prime orders and an 8x increase in daily revenue from those orders compared to March 2023
- Appliance sales increased 37% compared to average daily sales in June
- Toy sales increased 37% compared to average daily sales in June
- Apparel sales increased 37% compared to average daily sales in June
- Electronics sales increased 37% compared to average daily sales in June
Channel Key Takeaway
Prime Day has become more than just the biggest online shopping event of the summer. It’s also a way to measure the current state of the economy. Despite continued inflation, Prime Day 2023 showed that customers are still buying things – especially when they can get good deals. One of the biggest differences this Prime Day is the number of deals and the size of discounts offered. Many brands offered more than 60% off top-selling items to attract shoppers. Another important takeaway is the rise in Buy Now, Pay Later, which grew 20% YoY and drove $927 million in sales. According to Adobe, the consumer interest in steeper discounts and Buy Now, Pay Later options is a sign of what brands can expect during the upcoming holiday shopping season.