- Retailers raked in $7.9 billion in online sales during the first 24 hours of Prime Day, an increase of nearly 10% year over year, according to Adobe Analytics.
- Amazon is hosting its longest-running Prime Day sales event this year, while other retailers have responded with competing sales.
- The event is landing as consumers and businesses remain rattled by President Donald Trump’s unpredictable tariff policies.
According to Adobe Analytics, U.S. online sales on Tuesday, the first day of Amazon’s Prime Day megasale, increased 9.9% year over year to $7.9 billion.
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It is the “single biggest e-commerce day so far this year,” according to Adobe, at that level. Additionally, it surpassed the entire amount spent online during Thanksgiving last year, when sales totaled $6.1 billion.
Tuesday marked the start of Amazon’s Prime Day discount blitz, which runs through Friday. Originally introduced in 2015 as a means of attracting new Prime members, the event has prompted counterprogramming by rival businesses.
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Target Circle Week began on Sunday, Walmart’s six-day sale extravaganza began on Tuesday, and Best Buy debuted a Black Friday in July promotion on Monday.
According to Kashif Zafar, CEO of Xnurta, an advertising network that services over 20,000 online businesses, there were indications of high demand for home and outdoor goods on the first day of Amazon’s discount event.
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Demand for other traditionally strong categories, such cosmetics and necessities for the home, was initially weaker but may increase as Prime Day goes on, he continued.
“Early Prime Day numbers might look soft compared to last year’s surge, but it’s too early to call the event a miss,” Zafar wrote in his email. “With four days instead of two, we’re seeing a different rhythm, consumers are spreading out their purchases.”
During the 96-hour event, Adobe anticipates that online sales will total $23.8 billion across all shops, which is “equivalent to two Black Fridays.”
According to Adobe, during the 48-hour Prime Day event last year, American online buyers spent $14.2 billion.
As businesses and consumers deal with the consequences of President Donald Trump’s erratic tariff policies, this year’s Prime Day arrives at an uncertain moment.
According to the Conference Board, U.S. consumer confidence declined in June after rising in May as people continued to worry about how the tariffs will affect prices and the economy.
Andy Jassy, the CEO of Amazon, stated last month that tariffs haven’t caused prices to “appreciably go up” on the company’s website.
As the cost of tariffs became heavy, some third-party merchants previously informed CNBC that they were thinking of boosting the price of certain of their Chinese-made products or had already done so.
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