Amazon Prime Day kicks off Tuesday, Adobe projects $26 billion in online spending

Industry
โดย Yahoo Finance·Read original
Summary · why it matters

Amazon's 12th annual Prime Day begins Tuesday, running through June 26, with Adobe projecting consumers will spend $26 billion online during Prime week, up 9% from a year ago. Walmart and Best Buy launched their own six-day deal events on Monday, offering discounts of up to 50%, while Target is running promotions of up to 45% off from June 23 to June 26. Adobe Digital Insights lead analyst Vivek Pandya noted that Prime Day set a new standard for summer promotions, and the event is expected to drive the first $300 billion quarter outside the holiday season. Bank of America expects the biggest deals in electronics, apparel, and beauty, with Amazon's own products like Alexa+ and Kindle discounted up to 60% and 45%, respectively, plus an extra 10% off sale prices on grocery items. Numerator found that nearly half of planned shoppers will browse without a specific plan, and Adobe predicts buy now, pay later will account for 7.8% of e-commerce spending during the event.

Impact on stocks 6

Artificial Intelligence▲ · 2 stocks
Amazon.com Inc
AMZN
▲ PositiveDemandrelevance

Amazon's Prime Day is expected to drive significant consumer spending, boosting demand for its products and services.

Consumer Staples▲ · 2 stocks
Walmart Inc.
WMT
▲ PositiveDemandCompetitionrelevance

Walmart launched its own six-day deal event with discounts up to 50%, likely benefiting from increased consumer spending during Prime week.

Target Corporation
TGT
▲ PositiveDemandrelevance

Target is running promotions up to 45% off from June 23-26, likely to drive consumer demand.

Consumer Discretionary▲ · 1 stocks
Best Buy Co. Inc
BBY
▲ PositiveDemandrelevance

Best Buy launched its own six-day deal event with discounts up to 50%, likely to boost sales during Prime week.

Financials▲ · 1 stocks
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