Amazon Prime Day Spending Expected To Reach or Exceed $14B

It’s the biggest shopping day of the year for Amazon Prime members. Spending is expected to reach a record-setting $14 billion as consumers snag all the best buys from the online shopping site for two days only.

This year’s Prime Day is Amazon’s 10th. If sales hit $14 billion, it will represent a 10.5% growth year-over-year compared to Prime Day in 2023, according to Adobe’s forecast.

The first day of the Amazon Prime sales event, July 16, is predicted to drive $7.1 billion. “Day 1 is also expected to be the biggest mobile shopping day of the year so far, driving $3.4 billion in online spend, and representing a 48.4% share compared to desktop shopping,” Adobe’s blog post states.

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The release shows that the second day of Amazon Prime Day is projected to generate $6.9 billion, which would be a 9.2% year-over-year increase, while the first day is expected to increase by 11.3% from 2023.

Spending is tied to steeper discounts, according to Adobe, which predicts that the biggest discounts will be in electronics at 22% (up from 14% last year). Other categories expected to see substantial discounts include apparel at 20% (an increase from 12% in 2023), home and furniture at 17% (vs. 9% last year), toys at 15% (compared to 2023’s 12%), televisions at 14% (vs. 5%), appliances at 12% (up from 7%), sporting goods at 11% (compared to 6% last year), and computers at 9% (rising from 8%).

The New York Post quotes Vivek Pandya, Adobe’s lead insights analyst, who believes back-to-school shopping discounts will drive consumers to the two-day Amazon Prime shopping event, saying, “We are expecting really strong momentum for back-to-school.”

Reuters reports that Prime Day normally accounts for 1% to 2% of Amazon’s net global sales yearly. Per Adobe, the $12.7 billion shoppers spent at Amazon last year during Prime Day was 6.1% more than what they spent during the 2022 event.