And just like that another Prime Day has come and gone! This year - again - marked the largest shopping event ever on Amazon, with record breaking sales across the Amazon platform. The most shopped categories this year according to Numerator were: Apparel & Shoes, Household Essentials, and Beauty/Cosmetics.
At Code3 we led the charge for our clients ensuring all hands on deck. From tracking deals, managing media campaigns, and ensuring brand content was on point we helped brands show up and deliver this Prime Day. Below are our top 3 takeaways from this year’s online shopping event:
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- Economic conditions continue to influence shopping behavior; nearly ⅔ of all items purchased sold for under $20 this year. At Code3 we saw the average order price for shoppers decreased by 37% compared to PD 2023. Along with this decline it appears that shoppers were also in general less likely to convert off the bat when shopping deals.Amongst Code3 managed accounts visibility saw a sharp increase, with impressions seeing over a 100% increase YoY, signaling consumers were browsing but when it came down to pulling the trigger consumers were more cautious. Overall sponsored ads saw a 7% decrease in conversion rate during this year’s tentpole event.
- Attention to ad placement is key! Code3 managed accounts saw Top of Search (TOS) placed campaigns on Amazon perform the strongest across the board compared to PDP placements and off Amazon placements as well. Specifically, ads delivered at TOS saw the strongest conversion rate and drove over ½ of all ad sales on Amazon during PD 2024.
- Prime Day continues to attract new customers for brands on Amazon. During the lead in time frame Code3 clients saw 66% of orders attributed to new to brand customers (NTB is classified as orders from individuals who have not purchased from the brand in over a year). This percent shot up during the event, bringing the percent of new to brand orders up to 80%.This stark increase should serve as a signal to brands on Amazon that Prime Day and other tentpole events serve as a great way to get in front of new customers who may not traditionally be aware of your brand. In addition, this statistic also demonstrates the power of a deal/discount. Consumers who saw a deal on Amazon were more likely to convert on a brand they may not typically purchase from due to its lower / more attractive price during the tentpole event.
With another Prime Day in the books, it is clear that consumers are savvy and for brands to win competitive pricing and ad placement can determine overall performance. Here at Code3 we make sure our clients have this covered on all fronts from overall brand strategy down to the little details we help our clients WIN BIG!