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Prime Day Early Access Sale Recap: Sales, Ad Results, and Takeaways
For the first time in its history, Amazon announced a second Prime event, the Prime Early Access Sale (PEAS), which was a pleasant distraction for consumers battling budget constraints as inflation levels continue to remain at all-time highs (now at 8.2%, according to the U.S. Labor Department). While it may not have performed at the level of July’s Prime Day, it served its purpose as the herald of holiday shopping or, more accurately, the herald of holiday deals and promotions.
Below we will examine the results from Feedvisor customer sales and advertising data across Amazon’s U.S. marketplace during Early Access with comparisons to July’s Prime, identifying key trends and KPIs that helped inform our insights and projections for the remainder of the year.
Read on to discover how top brands and retailers are adapting their Prime event strategies to shape holiday and future tentpole events.
CPC Sees Some Reprieve, Especially for Top 5 Categories
Costs per click (CPC) and costs per impression (CPM) jumped to the highest they have ever been during July’s Prime and showed no sign of slowing down, to the dismay of advertisers. Thankfully, the PEAS average CPC decreased by 27% when compared to Prime Day and only increased by 5% when compared to Prime Day held in 2020.
The Home & Garden category saw the highest increase in CPCs by 24% during this event, while RoAS decreased by 24%. Total RoAS across categories decreased by a modest 27% compared to July.
Impressions Decline for Prime Early Access Sale
Impressions across all categories decreased 32% compared to July’s Prime Day, attributed to the lower ad spend for this event.
Similar to July’s Prime, impressions were significantly higher on the first day of the Amazon Prime Early Access Sale (October 11), with the Home and Garden category showing a nearly 10% increase in impressions from July as well.
Holiday shopping is indeed underway. Our eyes will be on sales trends this holiday season as we wait to see if holiday purchases will mirror last year’s when they started early but flattened as we entered Cyber 5, or if they will continue strong.
Currently, online holiday sales are predicted to hit $209.7 billion this year (based on the period of Nov. 1st to Dec. 31st), representing a 2.5% year-over-year growth.
Consumers will be more motivated by deep discounts than ever before, placing a greater emphasis on the visibility of your products and deals amidst the ever-growing competitive landscape. This means it is imperative to have the most advanced technology and a team of experts available who can craft a winning strategy from a combination of content, keywords, advertising, and repricing to help ensure discovery, engagement, and conversion.