Prime Day 2024 has wrapped up, and the results are truly impressive. Amazon has announced that this year's event set new records for sales and the number of products sold. Over the two days of deals—July 16 and 17, 2024—Prime customers worldwide saved billions on discounted products across all categories. At Witailer, we supported numerous brands on Amazon, and our clients' performance data reveals significant growth and valuable insights.
Retail Data Highlights
Significant growth in EU5 Region
Compared to Prime Day 2023, sell-out for our clients in the EU5 region grew by 10%, with notable increases in Italy (+13% YoY) and Germany (+22% YoY).
Increased importance of Day 2
The second day of Prime Day saw increased sell-out, now representing 46.5% of total sales, up by 1.6% from last year. In Italy, the gap between the first- and second-day sell-out reduced from over 20% to 13%.
Shopping patterns: early birds and last-minute shoppers
Early hours (6:00-11:59 am) were significant on the first day, while late hours (18:00-23:59 pm) were crucial on the second day, with 11% of total Prime Day sell-out occurring between 18:00-20:59 pm:
This suggests that some "last-minute" shoppers make their purchases towards the end of the second day, with the 18:00-20:59 pm time slot accounting for 11% of the total Prime Day sellout. This behavior has significant implications for advertising budgets, as there is a risk of missing opportunities towards the end of the second day.
AMC Insights
Food: bulk buying drives sales surge
The Food category was the top performer, with total purchases increasing by 97% despite a 4% drop in unique users. Units sold and total sales more than doubled. Data from Amazon Marketing Cloud shows that while unique users increased modestly, consumers were likely stocking up, purchasing in bulk during Prime Day.
Electronics: targeted marketing success
The Electronics category experienced a 52% increase in unique users, highlighting strong consumer interest. The targeted marketing efforts were highly effective, attracting a significant number of new users.
Healthcare: upselling and cross-selling pay off
The Healthcare category saw a decrease in unique users by 6% but a 52% increase in total purchases and a notable rise in total units sold. Despite fewer unique users, the category saw increased engagement and higher purchase volumes, indicating successful upselling and cross-selling strategies.
Advertising Performance
Higher competition and lower AOV impact sales
While visibility increased in line with ad spend, sales did not rise proportionally due to higher competition (CPC +10% YoY) and lower average order values (AOV -15% YoY):
Category Performance: Food and Healthcare
The Food category saw a more than proportional increase in sales compared to spend, thanks to stable competition and consumer inclination to purchase through ads. The Healthcare categoryexperienced the highest advertising costs and increased competition, yet saw a 10% increase in incremental sales despite lower AOV (-13% YoY).
Fun Fact
Fun Fact: one of the standout products on Amazon Italy during Prime Day 2024 was from our client, Bolton Personal Care. Their Bilboa Refreshing Shower Shampoo with Glacial Mint was among the top-selling items, showcasing the effectiveness of our collaborative efforts in driving product visibility and sales.
Conclusion
The data reveals that in categories such as food, beauty, and healthcare, visitors were more engaged and likely took advantage of Prime Day promotions to purchase in bulk or opt for higher-value products. Despite a decline in unique users, these categories saw significant increases in total purchases, indicating successful upselling and cross-selling strategies and increased customer loyalty.
Witailer's strategic advertising initiatives have once again proven successful, delivering remarkable results for our clients during Prime Day 2024. Our ability to analyze and act on detailed performance metrics positions us as a leading expert on Amazon. As we look ahead, Witailer remains committed to driving growth and success for our clients, leveraging data-driven insights to refine our strategies and maximize performance on Amazon.
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