With the second Amazon Prime Day event of the year, referred to as Prime Big Deal Days, typically taking place in early- to mid-October, its results tend to provide a good indication of what the upcoming holiday season will hold for both consumers and eCommerce businesses alike. With the October Prime Big Deal Day being geared towards kicking off the holiday shopping season, there is often a shift in purchasing behavior and consumer priorities from what we saw during the summer Prime Day event. Below, we break down some of the October Prime Day lessons learned and what this means as we look towards the holiday season. 

Outcomes from Amazon’s October 2024 Prime Big Deal Days 

The most recent Prime Big Deal Day occurred on October 8 and 9, and while it took place months ahead of the holiday season, 24% of participants reported using the sale to purchase holiday gifts. In fact, 16% stated that they were able to complete over half of their planned holiday shopping during the two-day sale. Additionally, 5% of shoppers bought other holiday items, such as decorations and wrapping supplies. This early holiday shopping trend aligns with the fact that many consumers are apprehensive about waiting to shop, believing that many brands may face inventory shortages later in the season. Even so, 86% of shoppers expressed that they will be returning to Amazon for additional holiday shopping later on this season.  

The total spending for the recent Prime Big Deal Days was around $942 million; roughly 3% less than that of last year’s October Prime event. This decline in spending is a noteworthy point as Amazon had been consistently hitting year-over-year growth targets during its Prime Day events. This decline in spending further supports the fact that consumers are being more cautious with their shopping habits and spending going into this holiday season, with 60% of consumers planning to buy fewer gifts while actively seeking out cheaper options and deals.  

Preparing for the 2024 Holiday Shopping Season 

Given these outcomes, eCommerce organizations should focus on a few key strategies to capitalize on the upcoming holiday season. 

Aligning marketing efforts with the early shopping trend is a crucial way to engage with consumers who are looking to check off their lists early. By promoting targeted campaigns for holiday shopping ideas and offering bundles or deals to consumers early on, organizations can incentivize consumers to purchase ahead of the season.  

Additionally, enhancing the online shopping experience for consumers by providing information such as detailed product comparisons, user reviews, and competitive pricing information can help build trust and encourage purchasing decisions. Given that 55% of participants in this year’s Prime Big Deals Days event actively compared pricing across retailers before purchasing, ensuring that your platform demonstrates value and quality can help differentiate your offerings from others, which is especially crucial when targeting budget-conscious consumers.  

Looking Ahead 

These October Prime Day lessons learned provide a helpful guide for eCommerce organizations as they prepare for the upcoming holiday shopping season. By understanding the shift in consumer purchasing behavior and emphasizing competitive pricing and deals, businesses can position themselves for success in a more consumer-cautious market. As consumers continue to demonstrate a desire to shop early and capture the best deals, it’s imperative for organizations to effectively capitalize on this momentum and meet the evolving demands of holiday shoppers.  

If your eCommerce organization is looking for support implementing new strategies or preparing for the shopping surge of the holiday season, reach out to Clarkson’s experts today.