Amazon Prime Day Wins Over Gen Z And Millennials, But Boomers Remain Elusive
Portfolio Pulse from Chris Katje
Amazon.com Inc (NASDAQ:AMZN) reported record first-day sales for Prime Day 2023 with $6.4 billion spent, a 6% increase YoY. Over 375 million items were purchased on Amazon in the first 24 hours. A survey found that 45% of all U.S. respondents shopped during Amazon’s 2023 Prime Day, with Gen Z and Millennials being the most active. Amazon shares trade at $131.86, up over 50% YTD in 2023.
July 20, 2023 | 7:42 pm
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POSITIVE IMPACT
Amazon's record first-day sales for Prime Day 2023 and the increased activity from Gen Z and Millennials could positively impact Amazon's stock in the short term.
The record sales and increased activity from younger demographics indicate a strong performance for Amazon's Prime Day 2023. This could lead to increased investor confidence and a potential rise in Amazon's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100