Amazon’s Prime Day could elevate its online sales to a new record this year.
According to Adobe Analytics data, the e-commerce giant is projected to generate $14 billion in online sales during the two-day event, setting a new benchmark for Prime Day.
The report indicates that the first day of Prime Day is expected to be the biggest mobile shopping day of the year so far, with Adobe forecasting Amazon to achieve $7.1 billion in online sales. The second day is anticipated to yield $6.9 billion in online sales.
The data compiled by Adobe analyzes online transactions encompassing over one trillion visits to U.S. retail sites, 100 million stock keeping units (SKUs), and 18 product categories.
Amazon’s Prime Day has become a significant industry-wide e-commerce event, prompting other retail giants like Target and Walmart to launch their own discount events.
Despite the competition, Amazon is expected to lead. Adobe attributes this year’s Prime Day sales boost to steeper discounts, back-to-school shopping, and flexible payment methods, such as buy now pay later (BNPL).
Adobe anticipates electronics to have the largest discounts at 22%, followed by apparel (20%), home and furniture (17%), toys (15%), and televisions (14%).