What Transaction Data from 10/10 Amazon Prime Day Signals for Holiday Shopping & Spending
October 13, 2023, PORTLAND, Ore. — Amazon reported record-breaking sales over its latest Prime Day in October 2023, painting a sunny picture for retailers with optimism about the upcoming holiday shopping season.
What Alt Data Reveals About Prime Day, 2023 Holiday Spending
Retailers’ high hopes for strong sales and consumer spending to close out the year may be dashed, with recent Prime Day alt data sounding alarm bells for many in the retail sector.
Specifically, credit card transaction data from Facteus uncovers different trends for Amazon versus other retailers:
Adjusting expectations and shifting gears, some retailers looking to stay afloat may pivot to risker alternatives to boost end-of-year sales, like chancy promotions that threaten to eat away at the bottom line.
Tougher Holiday Shopping Season for Smaller Retailers?
Entering the 2023 holiday spending season, both Amazon and Walmart are on solid footing, with each discount retailer having its own multi-million-member customer base to support sales. With inflation looming strong over the upcoming shopping season, these retailers will likely stand out among price-conscious shoppers.
Despite these challenges, there is a silver lining for big and smaller retailers alike, and that could include:
More balanced inventories
More predictability in inventory flux
A reduced need to offload surplus goods
As retailers roll out their holiday displays and gear up for in-person and online sales, many are fine-tuning their expectations, inventories, and forecasts in light of these alt data insights from one of the newest shopping holidays to hit the scene.
UPDATE: Our transaction data insights about Prime Day have been picked up by major news outlets. So, you can now also read this story on the Washington Post and other prominent news sites.