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Amazon Prime Day Online Spending Beats Estimate on Day 1
Walmart, Target Schedule Overlapping Promotions
Key Takeaways:
- Online spending hit $8.3 billion on the first day of Amazon’s Prime Day event, surpassing Adobe’s earlier $7.9 billion estimate.
- The four-day promotion is projected to generate $26.3 billion in sales, up 9% year over year, as overlapping deals from Walmart and Target drive broader demand.
- Retailers and analysts are watching the event for signals on consumer spending strength, with sales concentrated in electronics, appliances, tools and household essentials.
Online spending across all retailers in the U.S. hit $8.3 billion on the first day of Amazon.com Inc.’s annual Prime Day sale, according to Adobe Inc., beating the firm’s earlier estimate of $7.9 billion.
Adobe, which tracks visits to retail websites, expects total online spending to reach $26.3 billion over the four-day event, up 9% from last year’s promotion that was held in July.
Competitors such as Walmart Inc. and Target Corp. scheduled overlapping promotions, boosting traffic and shopping across the web. The closely watched event offers clues about the health of consumers and their willingness to spend.
Shoppers snatched up deals on electronics, appliances, tools and home & garden products on the first day, according to Adobe. Everyday essentials were also strong sellers, the firm said.
Amazon ranks No. 1 on the Transport Topics Top 100 list of the largest logistics companies in North America and No. 1 on the TT Top 50 list of the largest global freight companies. It ranks No. 15 on the TT100 list of the largest private carriers in North America.
Walmart and Costco rank Nos. 1 and 53, respectively, on the private carriers list.
