Prime Day Sales Surge as Consumers Seek Bargains
US online sales during Amazon.com (NASDAQ: AMZN)'s annual Prime Day event showed a significant increase of 6.1%, totaling a staggering $12.7 billion. This surge comes as inflation-hit Americans increasingly look for deals and discounts on the e-commerce platform, according to data released by Adobe (NASDAQ: ADBE) Analytics.
Second-Day Shoppers Contribute $6.3 Billion to Prime Day Sales
On the second day of the sales event, shoppers spent an enormous $6.3 billion. Deep discounts on a wide array of items including toys and household appliances lured customers. These buyers have been reducing non-essential purchases due to the impact of rising rental costs, mortgage rates, and food prices.
First Day of Prime Day Sees Nearly 6% Increase in Sales
Adobe Analytics' data revealed that U.S. online sales during the first day of Prime Day had seen a nearly 6% rise to $6.4 billion compared to the previous year. This showcases the continued strength and popularity of Amazon's marquee sales event despite broader economic concerns.