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U.S. Consumers spent approximately $7.2 billion across Amazon.com, Inc. (NASDAQ:AMZN) retailers on the first day of Amazon Prime Day.
The Details:
According to a report from Adobe Analytics, consumer spending across Amazon reached $7.2 billion on Tuesday, exceeding Adobe's estimate of $7.1 billion, up 11.3% from a year ago. The e-commerce research firm anticipates roughly $14 billion in total spending during Amazon’s Prime Day two-day shopping event this week.
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The record consumer spending came amid a reported outage on Tuesday night as the marketing portal for Amazon's merchants crashed. Multiple Amazon sellers and consultants reported the issue, which disrupted their ability to manage ad budgets and keyword bids during Prime Day.
Last year, Amazon reported its biggest sales day ever on Day 1 of its two-day Prime Day 2023, though the company does not disclose precise total sales figures for Prime Day. The online retailer began its Prime Day sales event 10 years ago, and Prime Day accounts for 1% to 2% of Amazon’s net global sales, according to CFRA Research.
AMZN Price Action: According to Benzinga Pro, Amazon shares are down 3.3 % at $186.64 at the time of publication Wednesday.
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Posted In: AMZN
