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The State of Ecommerce
Pre-Prime Day Pulse: April & May 2026
Entering Prime Day 2026, brands on Amazon are demonstrating stronger operational and commercial execution than a year ago. With efficiency metrics at cycle highs, Prime Day outcomes will hinge on closing the inventory execution gap in highest-revenue products before the event opens.
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Key takeaways
- Advertising Efficiency at a Two-Year High. Ad spend increased ~10% YoY while ROAS reached $5.80 demonstrating strong returns despite competitive CPC pressure.
- Conversion Leading the Funnel Story. Average conversion reached 29.8%, up ~15% YoY, with glance views flat, signaling that Alexa for Shopping is accelerating purchase decisions before traditional multi-product browsing occurs.
- Inventory Position Strengthening. On-hand inventory grew ~12% YoY, with PO fill rates steady at ~83%, giving brands improved supply-chain confidence ahead of peak demand.
- Stockout Risk Concentrated in Top ASINs. Despite stable OOS rates, stockout-related revenue loss spiked ~24% YoY — gaps concentrated in high-performing products, not broad availability failures.
