Amazon’s Prime Day event, which took place on July 16 and 17, has set a new record with customers splurging a staggering $14.2 billion online, marking an 11% year-on-year increase. The two-day extravaganza saw shoppers go wild, with a significant surge in online sales, particularly in the electronics category. According to Adobe Analytics, online shoppers spent a whopping $7.2 billion on Tuesday, followed by $7 billion on Wednesday, with both days showing a year-on-year increase.
The research company analyzed commerce transactions online, covering over 1 trillion visits to U.S. retail sites, 100 million SKUs (stock keeping units), and 18 product categories. Adobe found that consumers’ desire to upgrade or add new electronics and home furnishings to their homes was a major driving force behind the growth. Electronics, in particular, saw a significant surge in sales, with products like tablets (up 117%), televisions (up 111%), headphones and Bluetooth speakers (up 105%), fitness trackers (up 88%), computers (up 80%), smartphones (up 71%), and cameras (up 60%) experiencing notable increases.
Additionally, Adobe noted that shoppers “embraced shopping on smaller screens” over the two days, with about half of the total value of purchases made using mobile devices rather than desktop computers. This represents an 18.6% increase from last year, indicating a shift towards mobile shopping. The research firm also predicted that $84.4 billion will be spent in the full month of July, representing 8.2% growth over the same time last year.
Amazon’s Prime Day Crushes Records with $14.2 Billion Spending Spree
It’s worth noting that Amazon’s Prime Day event is officially over for this year, but there are still a few bargains to be had, if shoppers are quick. The event, which has been running since 2015, has consistently broken records, and this year is no exception.
The significant spending spree on Prime Day can be attributed to a combination of factors, including the competitive pricing offered by Amazon, the appealing deals on a range of products, and the convenience of shopping from the comfort of one’s own home. With the rise of online shopping, it’s likely that we’ll see more record-breaking sales figures in the future.
Amazon’s Prime Day event has once again set a new record, with customers splurging a staggering $14.2 billion online. The event has become a major shopping extravaganza, with shoppers embracing the convenience of shopping online and taking advantage of competitive pricing and appealing deals. As the retail terrain continues to evolve, it will be interesting to see how Amazon’s Prime Day event continues to shape the future of online shopping.
