Analysis from Captify on Tuesday shows an increase in searches including the brand name and Amazon in search keywords, suggesting a high purchase intent for consumers who seek these brands.
Samsonite (up 407%), Dyson (up 305%), Crest (up 157%), Apple (up 67%) and Therabody (up 34%) are some of the brands that have served up in prominent positions in Prime Day deal promotions.
This year, prior to Amazon’s annual sale event, searches for Prime Day were 17% compared with 2023. Amazon now faces greater competition from discounters and other retailers that have announced their own deal days.
Searches for Temu, a discount retailer out of China, have increased 73% this year, while TikTok Shop has seen increases of 623% since last year. Searches for Walmart deals rose 571% this year.
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Despite the increased competition, consumers still remain interested in Prime Day, with searches up 516% since June 23. While that percentage is slightly below last year’s search increase of 567%, it shows as a large improvement from 2022, where searches rose 268%.
Searches for Amazon are up 117% overall during the last two weeks, while big-box retailers have been flat, with 0% growth.
To gain insight into how brands spent dollars on Amazon just prior to Prime Day, Pacvue released Q2 2024 data spotlighting advertising trends across the marketplace. Ad spend on Amazon rose 15.5% quarter-over-quarter for Sponsored Brands and 11.7% for Sponsored Products.
Between multiple shopping events and seasonal increases in ad spend, the average cost-per-click (CPC) rose 11.4% for Amazon Sponsored Brands and 6.3% for Sponsored Products quarter-over-quarter, Pacvue found.
The increased CPC costs were also seen year-over-year, with Sponsored Brands up 10% and Sponsored Products up 3%.
According to Pacvue analysis, increased CPCs are likely due to increased competition -- especially for Sponsored Brands ads, as brands invest more in the ad type and new placements open up.
With CPC seemingly on the rise, return on ad spend (ROAS) declined slightly in Q2 2024, with Sponsored Brands declining by 3.8% but increasing marginally by 2% year-over-year.
Between the micro-season shopping events and the lead-up to PrimeDay 2024, ad spending increased 15.5% quarter-over-quarter for Sponsored Brands and 11.7% for Sponsored Products.