US Shoppers Spent $7.2B on Amazon's Prime Day

Consumer spending in the U.S. saw a significant increase on the first day of Amazon Prime Day, with a year-on-year growth of 11.7%, according to Adobe Analytics. Shoppers spent a total of $7.2 billion on Tuesday, up from $6.4 billion during the same period in 2023. This year's event marked the largest e-commerce sales day and the biggest mobile shopping day of the year, with $3.5 billion spent via mobile devices. The report highlighted the success of the Buy Now Pay Later (BNPL) option, which experienced a 17.1% growth year-on-year, contributing $540 million in sales. Various product categories saw remarkable increases in sales compared to June 2024, including headphones and Bluetooth speakers (up 164%), electronics (33%), and televisions (83%). Other notable categories included fitness trackers (81%), tablets (71%), and video games, which surged by 134%. The average order size on Prime Day 2024 reached $60.03, a notable rise from the previous two years, which recorded averages of $56.64 and $53.14. Adobe Analytics forecasts a total online spend of $14 billion over the two-day event, reflecting a 10.5% increase year-on-year. The report attributes the higher sales figures to new consumer demand rather than rising prices, as the Adobe Digital Price Index indicates a 4.2% decline in e-commerce prices over the past year. Overall, the data suggests a robust consumer appetite during this year's Prime Day, driven by a combination of innovative payment options and a diverse range of popular products.