Amazon Shoppers Tend to Change Their Spending Habits During Prime Day: High Inflation to Blame?

Amazon Prime Day just ended last Wednesday, July 13, and now is the time to rate the items most shoppers bought during the shopping spree.

Surprisingly, it seems that consumer spending habits have changed this time around. Many people seem more interested in buying diapers, dishwasher pods and other items than the most sought-after robot vacuums and Echo speakers.

What could be the reason for the change in preference for the products?

Amazon Shoppers Skipped Best-Selling Items

(Photo: Canned water is better from Unsplash)
It looks like Amazon shoppers are buying more “essentials” than “luxuries” on the recent Prime Day 2022.

Throughout the two-day trading bonanza, Amazon noticed that the consumer price index rose significantly to 9.1% last month. Consumers’ spending habit has also taken a turn as many customers have slowly dumped other optional items on the shelves.

Analysts said inflation is likely a big factor in why there is a shift in consumer spending habits during Prime Day 2022. Back then, they were more than willing not to buy an Amazon Echo speaker despite huge discounts, per CNBC.

Although the decline in economic growth is evident in the United States, Amazon was surprised to have managed to sell more than 300 million products in the past three days.

In 2021, the Seattle-based company sold just 250 million items. This year is a game-changer, hence the “biggest” ever in the history of the Prime Day event.

Clearly, inflation hasn’t affected Amazon’s sales, but it has changed how consumers spend their money. Instead of opting for luxury, they tend to grab common household items, including dishwasher pods, trash bags, and more.

“Sales are still very strong, but the category change is tied to inflation, especially around food. If they could have figured out how to give gas, it would have been the best Prime Day ever. time,” Pacvue President Melissa said. said Burdick.

For those who don’t know, Pacvue is a business platform that specializes in helping businesses with e-commerce advertising and selling.

Related article: Amazon Prime Day 2022 dilemma: should you spend on the next sale event?

Amount spent during Amazon Prime Day

The tech industry is pumped up at the recent sales event as data firm Numerator says people are always looking for more electronic gadgets in the store, according to Fortune.

Of course, these items remain the most purchased in 2021. Health and beauty products are only second to them. On average, the customer spends $34.08 per item.

This Prime Day, the average cost of an order hits $52.22. The numerator said it had decreased slightly since 2021, the average money spent at that time was $54.15 per order.

CommerceIQ Guru Hariharan noted that consumers discovered some options outside of Amazon where the deals were much cheaper. It’s more economical, and it’s very convenient to look for alternatives that will complement your budget.

Read also : Amazon Prime Day 2022: Shopping tips and tricks

This article belongs to Tech Times

Written by Joseph Henry

ⓒ 2022 TECHTIMES.com All rights reserved. Do not reproduce without permission.

About Anne Wurtsbach

Check Also

Money laundering: Raipur court extends custody of IAS agent, 2 others

A special court in Raipur, the capital of Chhattisgarh, extended the custody of an Indian …