E562: Prime Day & Q2 Results 2024: REAL NUMBERS
With Prime Day over and Amazon's Q2 earnings report revealed, Dave recaps how his Prime Day went and what does means for the future of third party sellers on Amazon.
Today's episode is sponsored by Clearco, a company that provides ecommerce businesses with working capital to fund inventory, marketing, shipping and logistics, and more! Check them out today!
Prime Day 2024 was touted as the biggest shopping event ever, with record sales and more items sold than any previous Prime Day.
But who were the real winners of Prime Day?
Today, Dave talks about his personal Prime Day experience, how Amazon missed their estimates for Q2, and what that means for third party sellers.
The Big Takeaway
- Amazon's Q2 earnings showed sluggish growth in online store revenue and missed estimates for the “third-party seller services and advertising revenue” section. This might mean more fees in Q3.
- Prime Day 2024 was the biggest shopping event ever, but its impact on overall sales is questionable as consumers may be delaying their purchases.
- Buy Now, Pay Later options are gaining popularity, accounting for 7.6% of all orders during Prime Day.
- Amazon Basics was the most searched for brand during Prime Day, indicating consumers' demand for low priced products.
- Apparel is emerging as a strong category on Amazon, potentially due to Amazon's response to Temu and Shein.
Timestamps
- 00:00 – Introduction: Amazon's Q2 Earnings and Prime Day 2024
- 03:06 – Sluggish Growth and Missed Estimates
- 09:47 – Prime Day 2024: The Biggest Shopping Event Ever?
- 13:02 – The Rise of Buy Now, Pay Later
- 17:42 – Amazon Basics: The Most Searched for Brand on Prime Day
- 21:24 – Apparel: A Strong Category on Amazon
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Thanks for listening!
Until next time, happy selling!
