2023 American Prime Day Shopping Intention Study
American Prime Day 2023 Shopping Study
BusinessDialogue learned that as we enter June, Amazon’s 2023 Prime Day promotion is also approaching. In April, research firm Tinuiti surveyed over 1,000 Amazon US Prime members to investigate their shopping intentions for this year’s Prime Day promotion.
Prime Day Main Purchasing Force
The research shows that 80% of respondents plan to shop on Amazon during this year’s Prime Day. Among the respondents who participated in shopping last year, 86% plan to shop again this year. Among those who did not participate last year, 63% plan to shop on Amazon during this year’s Prime Day.
Although the proportions of Generation Z and Baby Boomers planning to shop on this year’s Prime Day are similar, 58% of Generation Z respondents said they are more excited than last year, while only 21% of Baby Boomers said the same. Only 12% of respondents said they are less excited than last year.
- Interpretation of the USPTO Trademark Fee Adjustment Plan
- American cowboy clothing brand Guess buys back its Russian business for $85 million
- Shein on Brazilian Land How Billionaires Expand Fashion Empires in the Country!
Among those who plan to shop on Prime Day 2023, 52% said they plan to spend more than in 2022, while only 10% of respondents said they plan to spend less. In absolute terms, more than half of the people planning to shop this year said they plan to spend at least $100, and about 20% said they expect to spend more than $200.
Across generations, millennials are expected to have the strongest purchasing power this year, with 65% planning to spend more than $100.
Among Prime members, younger consumers are more likely to think that Prime Day is more suitable for shopping with Amazon than Black Friday. Overall, 58% of Prime members hold this view, with millennials and Gen Z accounting for 63%.
The Biggest Influencing Factor for Prime Day Shopping
Inflation is still a concern for most Prime members, with 54% saying it will prevent them from buying certain items during this year’s Prime Day, a decrease from last year’s 63%.
However, research shows that other factors are on the rise. More Prime members are saying that stock market valuations and rising interest rates will hinder Prime Day purchases, and more people are saying that increased offline shopping and travel activities will hinder purchases.
Among all the possible factors that could hinder Prime Day purchases this year, Generation Z is more likely than Baby Boomers to say that the above factors will hinder their purchases. For rising interest rates, 41% of Generation Z members say this will hinder their purchases, while only 17% of Baby Boomers hold this view.
Prime Day is not just Amazon’s way of boosting product sales in the summer, it has become a crucial benefit for many Prime members to decide whether to renew their membership every year. About 75% of Prime members say that Prime Day will affect their decision to renew, and slightly more than 20% of people think it will have a significant impact.
Therefore, Prime Day not only brings Amazon an increase in sales, but also generates revenue for Amazon from retaining Prime members in the coming months.
Millennials are most likely to convince Prime members that Prime Day is very important for them to renew their Prime membership (26%), with 10% saying it is the most important factor. In contrast, only 12% of Baby Boomers say this is very important, and 3% say it is the most important factor.
Regarding expectations for discounts, 36% of respondents say that discounts over 30% are attractive to them, while 35% of respondents hope to see at least 30% off discounts.
Prime Day Product Discovery and Research
55% of Prime members say they usually have specific product purchase intentions in Prime Day shopping, but they will also buy some new products. 54% of respondents say they have purchased products they did not know about before on Prime Day, and 64% of respondents have purchased unplanned products. This indicates a higher level of engagement.
Amazon’s Prime Day live streaming is a way for consumers to discover new products during the event. 31% of Prime members said they watched some of the live streams last year. The younger generation is more likely to watch live streams, with 38% of Gen Z and Millennials watching Prime Day live streams in 2022, compared to only 16% of Baby Boomers.
Among those planning to shop on Amazon during Prime Day this year, 63% said they are interested in buying products in the electronics, computer, and office supplies categories. Clothing, shoes, jewelry, and watches are the second most popular categories, which were also the two most popular categories in terms of purchase intent last year. However, this year, consumers’ willingness to purchase beauty and health products surpassed home, gardening, and tool categories, ranking third.
During Prime Day this year, Amazon’s own products are usually popular choices. The survey shows that Echo speakers are still the most popular Amazon product among Prime Day shoppers, followed by Fire TVs and FireStick/Cubes.
The survey shows that 20% of respondents planning to shop during the event will start researching what products they might buy more than a week in advance, while 51% of shoppers will start researching products a week before Prime Day.
In terms of product research and comparison channels, the most popular is search engines like Google, followed by retail websites, and finally social media. However, for Gen Z, social platforms are second only to search engines.
Popular shopping channels outside of Amazon
The survey shows that Walmart is the second largest shopping channel outside of Amazon during Prime Day. When asked which shopping websites they may browse besides Amazon during Prime Day, 61% of respondents said they would visit Walmart’s website.
Next are Target and Google, with 41% and 39% of respondents respectively indicating that they will browse these websites for products during Prime Day. However, among Generation Z, Target and Walmart are tied, with 60% of respondents choosing these two platforms.
About half of the respondents said they would visit other retail websites during Prime Day for price comparisons, and nearly one-third of respondents plan to check out promotional websites that directly compete with Prime Day.
The participation of Amazon Prime members in this year’s major promotions will also increase. Nearly half of Prime members plan to check Amazon’s situation every few hours, and another 33% of respondents will frequently check the transactions on Amazon during the event. Millennials are expected to have the highest participation in Prime Day, with 55% of them expecting to check Amazon every few hours, while only 40% of Baby Boomers say they will do so.
As far as the actual time spent by Prime members on the Amazon website during the event, respondents’ expectations are more moderate, with 66% of respondents expecting to spend no more than an hour on Amazon during these two days.
Like what you're reading? Subscribe to our top stories.
- Energy storage brand Anku Innovation receives over 100 million yuan in financing
- Just now, Dafei announced its second major acquisition of this month
- Project44 becomes the latest FreightTech company to announce layoffs
- Ali International Station Logistics Tracking Platform Online, Open to All Foreign Trade Enterprises
- Latest two cases of trademark infringement! Quickly delete these words!
- The operation process for returning and exchanging goods in the Italian overseas warehouse
- How to operate the return and exchange of goods in the Italian overseas warehouse?