Amazon Prime Day sales up 11%

During Amazon’s (NASDAQ:) 48-hour Prime Day sale, US shoppers spent $14.2 billion online, an 11% increase from last year, in line with estimates, according to Adobe Inc.

Consumers capitalized on significant discounts to upgrade their electronics, clothing, and small household gadgets, said Adobe, which monitors online expenditures across all American retailers during Amazon’s annual summer sale.

Analysts at Adobe said: “It’s clear now that the Prime Day event has been a catalyst across these major categories, with discounts deep enough for consumers to hit the buy button and upgrade items in their homes.”

The Amazon sales event has led to retailers such as Walmart and Target launching deals to attract customers seeking significant discounts.

Adobe calculates total online spending during Prime Day as rival retailers offer their own deals, prompting shoppers to compare prices across multiple sites.

Traditionally, July is a slow time for retailers. However, the Prime Day event resulted in a season where shoppers look for bargains, especially parents on back-to-school clothing, uniforms, electronics, backpacks, dorm decorations and supplies.

According to Adobe, total online sales increased by 11% on July 16 and 17 from $12.7 billion over the two days in 2023, with sales this year partly driven by back-to-school shopping.

Earlier in the day, Amazon announced that Prime Day 2024 was Amazon’s biggest Prime Day shopping event ever, with record sales and more items sold during the two-day event than any previous Prime Day event.

The company said that “with Amazon’s vast selection at some of the lowest prices of the year so far, millions more Prime members shopped the two-day shopping event compared to Prime Day 2023.”

Doug Herrington, CEO of Worldwide Amazon Stores, stated: “Prime Day 2024 was a huge success thanks to the millions of Prime members globally who turned to Amazon for fantastic deals.”