Amazon’s Prime Day shopping event is expected to generate around $14 billion in spending, according to Adobe Analytics. The event, which began a decade ago, is expected to increase spending by 10.5% from Prime Day 2023. “We are expecting really strong momentum for back-to-school,” said Vivek Pandya, Adobe’s lead insights analyst.
Prime Day accounts for 1% to 2% of Amazon’s net global sales. Amazon started advertising pre-Prime Day deals in early July on clothes, back-to-school gear, wellness products, and electronics. Day 1 of Prime Day 2023 earned its biggest sales day ever, although it doesn’t disclose total sales for Prime Day. Last year, $12.7 billion shoppers spent at Amazon during Prime Day was 6.1% more than what they spent during the 2022 event.
Amazon’s Prime Day has transformed July into a season for shoppers looking for bargains, particularly on back-to-school clothing, electronics, uniforms, backpacks, dorm decorations, and supplies.
Rivals Walmart and Target are also launching July discounts and marketing events to compete with Amazon and capture some of the $38.8 billion that the National Retail Federation trade group projects Americans will spend on back-to-school merchandise this summer.
Source: MSN
