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August 6, 2024
Content Director, Bizrate Insights
Dear Black Friday, you’ve got competition.
Amazon’s Prime Day continues to grow as a prime-time event for retail. This mid-year shopping extravaganza doesn’t just move merchandise; it’s reshaping how and when consumers open their wallets.
We’ve just wrapped up a deep dive into the minds of 1,000 online shoppers and have some juicy insights to share. So keep reading for key takeaways on the new rules of the game, straight from Prime Day shoppers themselves.
It probably goes without saying, but Prime membership is a significant driver of sales-day participation. Sixty-eight percent of respondents are Amazon Prime members, and the same percentage make purchases during the event. A whopping 67% expressed some or a high interest in Prime Day.
However, the majority (50%) kept their spending under $250. This suggests a sizable and active customer base that is measured in its spending, knowing another sale may be around the corner.
Key Insight: While Prime membership drives participation, there’s untapped potential to increase average order values.
The top five categories (apparel/accessories, health/beauty, consumer electronics, housewares/home furnishings, and toys/hobbies) demonstrate Prime Day’s broad appeal.
This diversity suggests that retailers should consider further expanding their Prime Day-style events beyond traditional electronics deals.
Key Insight: Prime Day isn’t just about tech — it’s a multi-category phenomenon that retailers can use to boost sales across various product lines.
Although 68% of shoppers typically buy a mix of full-price and sale products throughout the year, only 15% added full-price products to their cart during Prime Day.
Key Insight: All this underscores the deal-seeking mindset of Prime Day shoppers, and a strong promotional strategy is crucial for success during Prime Day-style events.
With 53% of shoppers making purchases from other retailers during Prime Day, it’s evident that the event drives overall retail activity. Walmart, Target, and Nike were among the top beneficiaries.
Key Insight: If you’re a well-prepared competitor with significant deal opportunities, you can capitalize on the increased shopping interest generated by Prime Day.
21% of shoppers used mobile devices for purchasing, and 19% browsed specific brands and retailers to check for deals. This highlights the importance of a seamless mobile experience and clearly communicated promotions that wow the shopper.
Key Insight: Mobile optimization and strong, visible deals are crucial for capturing Prime Day shoppers.
While 34% felt Prime Day met their expectations, concerns about higher prices and limited offerings were notable. This suggests that retailers need to focus on value perception and product selection.
Key Insight: There’s significant room for improvement in meeting customer expectations during major shopping events.
The data suggests that Prime Day shifts the timing of purchases rather than increasing overall yearly spending. This indicates that the event is more about capturing market share earlier in the year than expanding total annual sales.
Key Insight: Retailers should view Prime Day as an opportunity to secure sales earlier rather than expecting it to boost overall annual revenue significantly.
Prime Day continues to shape consumer behavior in unexpected ways. And staying nimble is essential for retailers.
Here’s your action plan for future Prime Days in 2024 and beyond:
By applying these insights, retailers can craft strategies that boost Prime Day performance and set businesses up for success across the entire shopping calendar.
But you can’t do that without a voice of customer solution that works and continually meets customers where they are right now.
Schedule a chat today with the Bizrate Insights team, and we’ll help set you up for success during the 2024 Holiday Shopping Season — and Prime Day 2025. And make sure to follow us on LinkedIn for our most up-to-date research.
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