PYMNTS-MonitorEdge-May-2024

Apple, Peloton Winners in Amazon’s Early Holiday Sale

Amazon, ECB, digital euro pilot, CBDC

Amazon said shoppers bought more than 100 million items during its Prime Early Access Sale this week.

The two-day sale — billed by Amazon as its earliest-ever holiday shopping event — drew in tens of millions of Amazon Prime members, the company said in a news release Thursday (Oct. 13).

Top sellers included Apple’s Macbook Air M1; the Peloton Bike; Bose earbuds and headphones; Casper pillows and toppers; and hair dryers, vacuums and air purifiers from Shark, according to the release.

There were also sold 8 million toys sold, Amazon said in the release, quoting Stacy Katz, co-creator of the Not Parent Approved game.

“Opportunities like Prime Early Access Sale have created a powerful boost to our business, as well as offering customers deep discounts and value,” Katz said in the release. “On the first day of the sale, we experienced a 500% increase in units sold.”

PYMNTS noted earlier this week that the sale could serve as a “retail windsock,” offering clues as to whether a broader swath of consumers will hold back on vital holiday 2022 spending.

Read more: Amazon’s Prime Early Access Sale Will Be Retail’s Inflationary Windsock

The sale came during a week that historically belonged to Columbus Day sales. But as retailers emerged from the pandemic, the day was used as an opportunity for destination businesses — both online and off — to grab scarce dollars before they were spent elsewhere, including at similar events held by Walmart and Target.

This week also saw Adobe Analytics predict that online spending during the season will grow just 2.5% — the lowest level since the company began monitoring this spending in 2015.

See more: Holiday-Related Commerce Expected to Slow or Even Drop

In addition, when Adobe Analytics provided a range of possible outcomes, the projections ranged from a drop of 2% to a rise of 5%.

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PYMNTS-MonitorEdge-May-2024