Amazon workers sort packages for delivery on E 14th Street on July 12, 2022 in New York City. Amazon is holding Amazon Prime Day in more than 20 countries, offering exclusive discounts on thousands of products, from July 12-13. The two-day sale began on 2015 as a celebration of the retailer's 20th anniversary. Michael M. Santiago/Getty Images
On July 17, the first day of Amazon's Prime Day event in the United States saw a staggering $7.2 billion in online sales, Reuters reported from Adobe Analytics data. This figure surpassed expectations, reflecting an 11.3% increase compared to the previous year.
The event also drew participation from Amazon and major competitors like Walmart and Target, which launched their own promotional campaigns to entice shoppers with deep discounts and special offers throughout July.
Adobe Analytics initially projected total online spending of $7.1 billion across various retailers on Tuesday with Amazon Prime Day possibly ending up with a $14 billion profit, according to VCPost.
As the month-long promotional period continues, analysts anticipate continued strong consumer interest driven by deals and incentives offered by leading retailers across the country.
Launched in 2015 to celebrate Amazon's 20th anniversary, it has since become one of the biggest online shopping events of the year, rivaling Black Friday and Cyber Monday.
The reason people spend so much during Amazon Prime Day is due to the deep discounts and exclusive deals available. Many consumers wait for this event to make massive purchases, knowing they can save a considerable amount of money. The event also creates a sense of urgency with time-sensitive deals, encouraging quick purchases.
Amazon Prime Day typically lasts for 48 hours, giving shoppers a two-day window to take advantage of the discounts. However, some deals may start early or extend slightly.
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