Amazon’s Prime Day Reveals Consumer Spending Habits And Addictive Shopping Trends

An image of a woman holding a cell phone in front of an Amazon.com logo displayed on a computer screen. On Tuesday, January 12, 2021, in Edmonton, Alberta, Canada. E-commerce giant Amazon.com, Inc. (NASDAQ: AMZN) launched its Amazon Prime membership program back in 2005 with an annual cost of $79. The main perk of the plan was free two-day shipping for customers. PHOTO BY ARTUR WIDAK/GETTY IMAGES

E-commerce giant Amazon.com, Inc. (NASDAQ: AMZN) launched its Amazon Prime membership program back in 2005 with an annual cost of $79. The main perk of the plan was free two-day shipping for customers.

Benefits such as Prime Day were added later, providing exclusive deals for consumers.

In honor of Prime Day 2023 (July 11-12), here’s a look at how much Americans spend on this popular shopping day, on Amazon monthly and what they’re willing to give up for the convenience of getting items shipped directly to their homes.

What Happened:  A survey from Upgraded Points, published in June, shows exactly how much the average American spends on Amazon a month.

Of those polled, 25% said they buy on Amazon an average of once a week. Thirty-three percent of those surveyed said they have spent more on Amazon in the last year than what they currently have in their savings account.

Amazon Delivery signage is displayed outside an Amazon.com Inc. delivery hub during Amazon Prime Day on July 12, 2022 in Torrance, California. According to the survey, Americans spend an average of $91.75 monthly on Amazon. The survey breaks down that Amazon Prime members, who enjoy free two-day shipping, spend an average of $110 on Amazon monthly. PHOTO BY PATRICK T . FALLON/GETTY IMAGES 

The top products listed by those polled that they buy on Amazon were electronics/tech, 54.5%; clothing/accessories, 48.1% and toiletries/personal care, 41.5%.

The Prime Day holiday, which offers exclusives for Prime members, saw the average American spend $117 across the two-day shopping holiday.

Generation X members are listed as the biggest spenders on Prime Day, with an average of $148 spent.

So just how convenient and potentially addictive is shopping on Amazon? The poll also asked consumers what they would be willing to give up to keep using Amazon.

Fifty-seven percent of people said they would rather give up alcohol for a year than give up Amazon.

In the poll, 34% of women said they would give up sex for a full year instead of getting rid of Amazon. And 26% of Americans polled said they would give up traveling for a full year in order to keep their beloved Amazon.

In the first quarter of 2023, Amazon reported revenue of $127.4 billion, which was up 9% year-over-year. North American sales made up $76.9 billion of the total and were up 11% year-over-year.

In 2022, Amazon reported revenue of $514 billion, which was up 9% year-over-year. Full-year North American segment revenue was $315.9 billion, which was up 13% year-over-year.

Amazon is one of the largest companies in the world with a market capitalization of $1.32 trillion.

 

Produced in association with Benzinga