This week, we’re bringing you a special edition of our Weekly Retail Roundup! In this edition, we’re diving into Amazon Prime Day, providing you with a recap and early sneak peek of our Amazon Prime Day data, tips, and strategies to make the most of the Post-Prime Day hype, and sharing our findings from Walmart Deal Days.
Amazon Prime Day 2024
And…that’s a wrap!
Prime Day 2024 is officially over, and once again, it broke records. Adobe Analytics’ initial data shows that spending surpassed forecasts, totaling $14.2B over two days.
We hope your team had a successful Prime Day event and set a few of your own records. We’ll be publishing a comprehensive recap report as all the data rolls in, but an early sneak peek at our initial data shows:
- 490% WoW Increase in Average Daily Spend
- 63% WoW Increase in CPC & 5% YoY Increase in CPC
Although Prime Day may be wrapped, the opportunity to capture revenue certainly is not. Here are our top 5 tips to take advantage of the Post-Prime Day hype:
1. Analyze your Prime Day performance data to identify top-performing campaigns and flag any anomalies or errors. The best part is that you can now ask Pacvue Copilot to do it for you. Learn more about Copilot and what it can do here.
2. Assess and adjust your inventory levels based on Prime Day sales data. This includes planning for restocking high-demand items and managing overstocked products through targeted promotions.
3. Monitor and adjust advertising budgets in the days that follow, considering that CPCs will be lower post-event, but shoppers will still be browsing for products.
4. Re-engage audiences with Amazon Marketing Cloud and DSP. Utilize AMC to create audiences you can retarget with DSP ads to convert shoppers who did not purchase. Learn best practices and strategies here.
5. Prepare for future sales events. Back to school is up next, another Prime Day in October is likely, and Cyber-5 will be here before you can say turkey. Now is the best time to start planning your campaigns. Check out our 2024 Back to School Guide with tips for Amazon, Walmart and Target.
Walmart Deal Days
Prior to Amazon’s Prime Day sale, Walmart held its own sales event, Walmart Deal Days, which took place July 8 to 11. Our team compiled the data from Walmart’s sales event, let’s dive into some numbers.
Insights on Sponsored Products:
Brand Average Daily Spend for Sponsored Products surged by an impressive 20% year-over-year, hitting a peak of 23.6%, while the cost-per-click (CPC) rose by over 10%, reaching a high of 16.4%. These figures reflect heightened competitiveness during the event. Conversely, the lead-up to Amazon’s Prime Day showed a 10-20% year-over-year jump in Brand Average Daily Spend, but a decrease in CPC, signaling a notable shift in budget allocation in favor of this year’s Prime Day.
In terms of costs, Walmart’s Deal Days boasted a lower Brand Average Daily Spend and average CPC of $0.75, compared to the previous Amazon Prime Day, with an average CPC of $2.15.
Insights on Sponsored Brands:
During Walmart’s Deal Days, we saw an impressive 14% increase year-over-year in Brand Average Daily Spend for Sponsored Brands Ads, with a peak of 21.6% on the first day of the sale. CPC for Sponsored Brands Ads remained steady with minimal year-over-year change, signifying that advertisers allocated more budget in the first two days, while cost-per-click remained stable.
Shifting our focus back to Amazon, the Prime Day pre-sale phase was equally as exciting as the big day, witnessing a substantial 20-40% year-over-year surge in Brand Average Daily Spend for Sponsored Brand Ads. Comparing the two, Walmart’s Deal Days boasted lower Brand Average Daily Spend compared to Amazon, with an average CPC of $1.37 compared to Amazon’s CPC reaching an average of $2.30.
Pacvue Insider
Now that Prime Day is officially wrapped up, our team will be diving into all the data compiled for our upcoming Prime Day 2024 Report. This report will be packed with valuable insights into performance metrics, trends and key highlights from this year’s event. Stay tuned, and get ready for an in-depth look at the data!
