Bloomberg:
Amazon Prime Day Spending Down 14% in Early Hours From 2024
Amazon.com Inc.'s Prime Day sales fell almost 14% in the first four hours of the event compared with the start of last year’s sale, according to Momentum Commerce.
The four-day event this year makes year-over-year comparisons tricky, and shoppers may be holding off in hopes that discounts will deepen as the sale proceeds.
. . . . Prime Day stretches over four days this year, up from two in 2024, making year-over-year comparisons tricky. And shoppers could be holding off in the hopes that discounts will deepen as the sale proceeds. But the initial hours are still seen as a key indication of its performance. . . .
Apple Inc. stood out with some of the steepest discounts on electronics, including $89 for AirPods 4 wireless earbuds, less than what they cost last Black Friday, . . .
Everyday essentials like snack packs for lunch boxes is where the competition is steepest between retailers like Amazon, Walmart Inc. and Target Corp., McGrath said, highlighting consumer appetite for grocery discounts over electronics purchases.
“Stores are meeting customers with deals on essentials instead of on tech,” she said.
If there is an overall shift away from electronics and into basic necessities that would be very interesting.
