Amazon’s Prime Day is poised to elevate its online sales to unprecedented levels this year.
Based on data from Adobe Analytics, the two-day event could generate $14 billion in online sales for the e-commerce behemoth, marking a new record for Prime Day.
The report predicts that the first day of Prime Day will be the biggest mobile shopping day of the year to date, with Adobe forecasting $7.1 billion in online sales. The second day is expected to bring in $6.9 billion.
The data from Adobe encompasses online transactions from over one trillion visits to U.S. retail sites, analyzing 100 million stock keeping units (SKUs) across 18 product categories.
Amazon’s Prime Day has become a significant e-commerce event, influencing other major retailers like Target and Walmart to organize their own discount sales.
Despite the competition, Amazon is likely to lead the pack. Adobe attributes this year’s anticipated Prime Day success to deeper discounts, back-to-school shopping trends, and flexible payment options, such as buy now, pay later (BNPL) services.
Adobe projects that electronics will feature the steepest discounts at 22%, with apparel at 20%, home and furniture at 17%, toys at 15%, and televisions at 14% also seeing substantial price reductions.