Peak awareness and participation
Across the board, U.S. consumers (100% of those surveyed by NielsenIQ) have a baseline awareness of Amazon Prime Day—no small accomplishment for a shopping holiday that is only seven years old. It should also be noted that close to 70% of consumers surveyed are coming to Prime Day 2022 with some level of past Prime Day shopping history and experience.
A large segment of consumers prefer Prime Day over other deal holidays such as Black Friday and Cyber Monday. Almost a third (31%) of consumers surveyed believe Prime Day offers better types of products, 44% feel Prime Day is easier to shop, and 27% believe Prime Day deals offer better value. Forty-three percent of consumers surveyed indicated feeling the same level of excitement for Prime Day as other deal holidays, with 26% feeling more excited for Prime Day and 19% indicating more excitement for Black Friday and Cyber Monday.
Spending expected to rise despite inflation
Despite the grim consumer spending landscape due to rising inflation, consumers plan on shopping and spending more during this year’s Prime Day.
“With concern over rising prices and economic uncertainty, today’s omnishoppers – those of us who shop both online and in stores – are looking to get the best bang for our buck,” says Carman Alison, VP of Thought Leadership, North America. “Influenced by the recent spike in gas prices, we see consumers shifting more of their purchases online versus driving to a store.”
More than half of consumers surveyed (64%) plan on shopping during Amazon Prime Day. And of those planning to shop, 56% of consumers plan on spending more this year than in 2021. A third (33%) plan to spend approximately the same amount as last year.
Prime Day purchase plans
Outside of traditional popular Prime Day purchases like electronics and smart devices, this year consumers plan to stock up on household essentials. Over half (58%) of consumers surveyed indicated they will also be shopping Prime Day for household products. In fact, we expect CPG sales during this year’s Amazon Prime Day to be the strongest on record.
Pantry stocking will be in force at this year’s Prime Day—28% percent of consumers surveyed stated that they will be shopping for food and beverages during this year’s Prime Day. Beyond pantry staples, Prime members will benefit from extra perks this year in Amazon Fresh retail stores on freshly prepared food items such as sandwiches, soups, pizza and sushi.
That said, beyond everyday essentials within CPG, consumers may also be leaning into this event to hunt for larger-ticket everyday items and appliances (for example, washing machines or vacuum cleaners). Electronics (65%) remain high on the list similar to years past—consumers have been clamoring to score early deals on smart home goods and gadgets since June.
Fashion is also top of mind for online shoppers, with 67% of consumers looking to this event to purchase new clothes and shoes. In the same vein of keeping up appearances, 49% of consumers will be specifically looking at Prime Day for deals on beauty and personal care products.
E-commerce continues to thrive
Prime Day continues to be a massive online shopping event across CPG categories, growing every year to include more countries. As inflation and uncertainty drive consumers to look for deals on household essentials, CPG manufacturers and brands will want to make note of consumer spending trends to compete online now and in the future.