Amazon’s Prime Day is anticipated to propel its online sales to new heights this year.
Data from Adobe Analytics indicates that the two-day event could generate $14 billion in online sales for the e-commerce giant, setting a new record for Prime Day.
The report reveals that the first day of Prime Day is projected to be the biggest mobile shopping day of the year so far, with Adobe forecasting $7.1 billion in online sales for that day alone. The second day is expected to close with $6.9 billion in online sales.
Adobe’s analysis is based on online transactions, tracking over one trillion visits to U.S. retail sites, 100 million stock keeping units (SKUs), and 18 product categories.
Prime Day has evolved into a significant e-commerce event, prompting other retail giants like Target and Walmart to launch their own discount events.
Despite this competition, Amazon is expected to lead. Adobe attributes this year’s Prime Day sales boost to greater discounts, back-to-school shopping, and flexible payment methods such as buy now pay later (BNPL).
Adobe anticipates the largest discounts in electronics at 22%, with other categories like apparel at 20%, home and furniture at 17%, toys at 15%, and televisions at 14%, following closely.