Key Takeaways
- Amazon said this year’s Prime Day produced records for sales and items sold, though it didn’t provide numbers.
- An analysis from Adobe Analytics found that Americans spent just over $14 billion across online retailers during the events two-day span.
- Amazon’s shares fell Thursday alongside other tech stocks.
American shoppers spent big online during Amazon.com’s (AMZN) two-day Prime Day sales event, according to new estimates.
Amazon, which doesn’t detail revenue numbers for its Prime Day sales event, said Thursday that this year’s event was the best in the event’s 10-year history in terms of sales and items sold. Adobe Analytics said that American shoppers spent about $14.2 billion at online retailers over Tuesday and Wednesday combined.
A record number of customers signed up for Prime in the three weeks leading up to the event, Amazon said. Adobe had earlier this week predicted $14 billion in total online retail spending, up more than 10% from last year’s event.
Back-to-School, Electronics Categories See Gains
This year’s event was later in the month than last year’s, which may have boosted sales of back-to-school products like backpacks, school supplies, and youth apparel, according to Adobe. Larger purchases like electronics and furniture were also more popular this year, Adobe said.
Sales were split evenly across the two days, Adobe said. Several Amazon retail competitors, including Target (TGT), Walmart (WMT), and Macy’s (M) ran their own sales events in the days around Prime Day.
Amazon’s shares were recently down more than 2% amid a broader pullback from the big tech stocks that have driven markets this year.