Momentum Commerce Says Amazon Prime Day Sales Down 14% in First 4 Hours

Core Insights - Amazon's Prime Day sales in the first four hours were reported to be 14% lower than the same period last year, indicating a potential decline in consumer spending or interest [1][5] - This year's Prime Day event lasts four days, compared to two days last year, which may lead to consumers spreading their purchases over a longer period or waiting for better discounts [3][6] - The initial hours of Prime Day are considered a key indicator of overall event performance and consumer sentiment, with Amazon's Prime membership reaching 196 million in the U.S. as of March [4][6] Sales Performance - Sales figures during the first four hours of Prime Day were 14% lower than the previous year, suggesting a shift in consumer behavior [1] - Momentum Commerce, which manages Amazon sales for brands, reported generating approximately $7 billion in annual sales on the platform [2] Event Structure - The 2023 Prime Day event is structured over four days, introducing themed daily deal drops called "Today's Big Deals," which may attract different consumer engagement [3][6] - The event offers deals across more than 35 categories of products and services, aiming to enhance consumer interest [6] Competitive Landscape - Walmart launched Walmart+ Week concurrently with Amazon's Prime Day, raising questions about consumer behavior differences between this year and last [5] - Economic factors such as global tariffs and declining consumer confidence are influencing shopping patterns during this year's sales events [5]