U.S. Consumers Spend $7.2 Billion On First Day Of Amazon's Prime Day
Portfolio Pulse from Erica Kollmann
U.S. consumers spent $7.2 billion on the first day of Amazon's Prime Day, surpassing Adobe Analytics' estimate of $7.1 billion. Despite a reported outage affecting Amazon's marketing portal, the event saw an 11.3% increase in spending from last year. Amazon shares are down 3.3% at $186.64.
July 17, 2024 | 3:03 pm
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POSITIVE IMPACT
Amazon's Prime Day saw $7.2 billion in consumer spending on the first day, exceeding estimates despite a marketing portal outage. However, Amazon shares are down 3.3%.
The record spending on Prime Day is a positive indicator for Amazon's revenue, but the reported outage and the current drop in share price suggest mixed short-term impacts. The overall positive sales performance is likely to outweigh the temporary technical issues.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100