Amazon confirms second Prime Day event

What’s new: Amazon’s second shopping event for Prime members will take place October 11 and 12. The event, called the Prime Early Access Sale, will be virtually the same as Amazon’s Prime Day held earlier this year.

• The retailer will offer “hundreds of thousands” of deals for Prime members across top categories including electronics, fashion, home, kitchen, pets, toys, and Amazon devices.

Looking back: July’s Prime Day was Amazon’s biggest ever, with 300 million items purchased globally by Prime members over the course of the two-day event.

• Total US online spending reached $11.9 billion, an 8.5% increase year over year, per Adobe.
• But inflation took its toll: Over a third of Prime Day shoppers said they spent less this year, per Numerator.
• Our analyst Andrew Lipsman said Amazon needs more Prime Day-type events as commerce slows and these occasions drive advertising adoption long term.

The winners: The most popular category among US consumers was household essentials, which were purchased by 30% of Prime Day shoppers, according to Numerator.

• Health & beauty, consumer electronics, apparel & shoes, and home & garden rounded out the top five product categories.

Halo effect: Amazon’s Prime events boost other retailers as well. Nearly a third of consumers browsed Walmart and 24% checked out Target during the July Prime Day.

Our prediction: As an unofficial kickoff to the holiday shopping season, this Prime Day will be just as big, if not bigger, than July’s event. While essential items and everyday goods were the stars of the first Prime Day, we’re betting gifts and bigger-ticket items will shine during October’s event.

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