Amazon Prime Day boosts sales for retail rivals, early data shows
Amazon’s “Prime Day” promotion typically yields a massive return for the e-commerce giant, but early data suggests that retail rivals are also benefitting from the summer shopping rush.
Large U.S. retailers, classified as companies with $1 billion or more in annual sales, experienced a 64 percent spike in e-commerce compared to a typical Monday, according to Adobe Analytics. That figure marks an increase compared to last year’s Prime Day, where retailers of the same size saw a 54 percent bump. Niche retailers, defined as companies with $5 million or less in annual sales, saw a 30 percent increase on Monday.
Overall, top U.S. retailers, including Amazon, have generated $2 billion in e-commerce spending during the Prime Day promotion, which began early Monday morning, Adobe said. This year’s event marks the third time outside the holiday season that U.S. e-commerce spending topped the $2 billion threshold, with retailers previously accomplishing the feat over Memorial Day 2019 and Labor Day 2018.
Amazon expanded its “Prime Day” promotion to 48 hours this year, up from a 36-hour window in 2018. Last year’s “Prime Day” was Amazon’s “biggest in history,” as Prime members purchased more than 100 million items on the platform, the company said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 173.81 | -5.41 | -3.02% |
Several of Amazon’s retail rivals, including Walmart, Target and eBay, are holding their own sales promotions alongside “Prime Day.” EBay is touting a “crash sale,” with discounts planned for many items if Amazon’s site goes down during the event, as it briefly did in 2018.
CLICK HERE TO GET THE FOX BUSINESS APP
Adobe measures sales data from 80 of the top 100 U.S. online retailers, including Amazon and Walmart.
