According to a statistic released by Adobe Analytics on Wednesday, customers in the United States spent approximately $7.2 billion online across shops on the first day of Amazon’s Prime Day.
To compete with Amazon’s sales event, major retailers, such as Walmart (WMT.N) and Target (TGT.N), have started giving deep discounts and shopping events through July in an effort to draw shoppers.
Since Prime Day, which started ten years ago, offers customers substantial discounts and the ability to order products for same- or one-day delivery, Amazon has been able to overtake other shops in the market share during the month.
The amount spent on back-to-school items has also increased significantly; on Tuesday, it was up 210% above daily sales levels in June 2024, according to Adobe Analytics, a company that analyzes e-commerce transaction data.
July 16 total online sales increased 11.7%, according to Adobe. During the course of two days in 2023, customers spent $12.7 billion online at various businesses during the Prime Day event.
In an effort to drive some demand this year, Amazon also provided early access to offers before the two-day event started.
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According to research firm Numerator, within the first 32 hours of the Prime Day event, Amazon’s average cost per order was $60.03, as opposed to $56.64 in 2023.
With reductions of about 23% for electronics, 20% for clothing, and 15% for toys, Adobe, which depends on direct-to-consumer transactions based on more than 1 trillion visits to U.S. retail websites, predicted that customers will find big bargains on Wednesday.
