11 Jul 2023
Gekko Survey - Shoppers primed for Amazon Prime Day, despite one in four likely to click and regret
The nation is looking to snag a bargain this Amazon Prime Day, but with one in four shoppers regretting purchases they have made in the past, consumers should be aware of the ‘false allure’ of a discounting day.
According to new research from customer experience marketing agency Gekko, more than half (52%) of respondents expect to spend this Prime Day, with one in five (20%) planning to spend more than £100. Despite the cost of living crisis, half (49%) of Brits are planning to spend the same as last year, and 10 per cent are planning to spend more. Just 17 per cent expect to reduce their Prime Day spend.
Despite the excitement felt when securing a bargain at the time, one in four (24%) have regretted a purchase made on Prime Day, suggesting that consumers should be mindful of their spend. The same number (24%) think that Prime Day persuades them to spend money they don’t really have, especially during the cost of living crisis.
Meanwhile 80 per cent of people will browse for deals to see if there is something they like this Prime Day - rather than starting out with an idea of what they want or need. However, one in four (25%) prefer to buy big ticket items in physical stores - and interestingly, despite being an online retailer, nearly half (47%) said they would like to see Amazon have more of a physical presence and even create Prime Day pop-up shops.
Daniel Todaro, Managing Director of Gekko, commented: “Prime Day will be good for Amazon as usual. It was a record year last year, with 300 million items purchased globally, but is it good for consumers? Our research shows one in four regret purchases they make on the day with the desire to grab a bargain trumping their actual wants and needs.
“So be aware of the false allure of a discounting day. After all, it’s only a bargain if it was something you needed in the first place. It makes sense to wait for Prime Day specially to purchase higher value products or look for deals on specific items, such as consumer electronics, like televisions, laptops, home appliances or something significant for the home or garden. However, if you look at the most popular items that sold last year, it was small luxuries and essentials such as face serums, dishwasher tablets and even cat food.
“The focus in these crunch times will be to save money on the everyday items and small luxuries and not necessarily on large ticket items, with many consumers still needing a nudge that only physical retail can provide. It's important for many that they don’t spend money they simply don't have just because items are on offer on Prime Day.”
Photo by Kindel Media from Pexels