Inflation's effect on e-commerce
We’re back again this week with another C&C you don’t want to miss…
This week here is this news everything is talking about:
The Amazon Corner
The Numbers are In: Amazon's Prime Day 2024
Prime Day 2024 was a roaring success for Amazon, with a record-breaking $14 billion in online sales and millions of new members. From electronics to apparel, shoppers took advantage of deep discounts on everyday items and small indulgences.?
The average household spent approximately $152, with top purchases including Amazon Fire TV Sticks and Premier Protein Shakes. But while Americans were definitely splurging, they also showed restraint by opting for practical items over big-ticket purchases. It seems that even during the excitement of Prime Day, saving money is still the top priority for savvy shoppers.??
领英推荐
Top Retail and E-commerce Stories
Rising Above Inflation: Online Spending Soars in June
Despite inflation concerns and rising prices, online spending in June 2024 saw a healthy growth of 8%, outpacing the overall consumer price index decline of 1.14%. This trend was driven by strong sales in grocery and general merchandise categories, with apparel sales increasing by 8% and general merchandise sales jumping by a whopping 30%.
However, not all categories saw positive growth, as leisure and outdoor sales dropped by 2%. Additionally, a survey from Bread Financial revealed that more than half of consumers are cutting back on their spending and willing to trade down on quality for price. With shoppers actively seeking out deals both online and in-store, it’s clear retailers will need to adapt to changing consumer behaviors in order to thrive in this evolving landscape.
QUICK TIP
Try this. Consistently use CTAs throughout your website and content. Why? Imagine wanting to buy something in a store but having to search for the cashier. CTAs will empower your warm buyers to take action!