The first day of Amazon Prime Day generated $6 billion in sales, up 7.8% from last year, making it the biggest U.S. online shopping day of 2022 so far, according to the Adobe Digital Economy Index. “Consumers took advantage of discounts that were offered, after having experienced many months of heightened prices online,” said Pat Brown, Adobe vice president, in a statement. “The early momentum and strong growth for the first day of the Prime Day event supports retailers trying to unlock new levels of growth, in an inflationary market environment.” Early data from Numerator shows that two of the five top items purchased on the first day were household products: Frito-Lay Variety Pack and Dawn Powerwash Dish Soap. A wide majority (83%) of shoppers said inflation impacted their purchases, with one-third of those Numerator surveyed saying they waited for the Prime Day sales. Amazon stock is down 34.4% for the year to date. The latest government data shows that inflation reached a 41-year high of 9.1% in June. See also: Record-breaking grocery-price inflation in June could make food items hot sellers this Amazon Prime Day
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
