generic Amazon's Second Prime Day Sees Thrifty Shoppers As Inflation Woes Weigh
Amazon.com, Inc (NASDAQ: AMZN) shoppers largely skipped expensive purchases during its second Prime sale for 2022.
The customers favored pantry items and affordable gifts over big-ticket items like televisions and laptops, Bloomberg reported.
The average order size as of 1 p.m. in New York on October 12 was $46.44, down 23% from the "Prime Day" sale in July, according to Numerator.
The two-day "Prime Early Access Sale," which began October 11, generated softer sales than the summer event, according to Klover.
Consumers battled the loftiest inflation in some 40 years.
There are evidence consumers are trying to make their money go further in an inflationary environment, but it's too soon to compare the event to the July sale, Prime chief Jamil Ghani said in an interview.
"Everyone is feeling the pinch of inflation," he said. Ghani said customers were focusing not simply on "needs" but on "wants," too.
For the first time, Amazon hosted a version of the Amazon Prime event twice a year for Prime subscribers, dubbed the "Prime Early Access Sale."
However, some prices posted on Amazon that looks like they are marked down or labeled as discounted reflect the item's regular price, a study said.
In some circumstances, the authors found, a discount might reflect a price increase.
Price Action: AMZN shares traded higher by 0.51% at $113.48 in the premarket on the last check Thursday.
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