Amazon’s Prime Day sales event propelled consumers to spend billions more online this week, the Wall Street Journal reports, kicking off an end-of-year shopping season that is expected to be dominated by e-commerce shopping.
Overall spending on Amazon’s site increased by 36% in the U.S. during the two-day event compared with Prime Day last year, according to research firm Edison Trends, though that was lower than the 42% increase the company saw in 2019. Before the event, research firm eMarketer projected that Amazon’s total U.S. Prime Day sales would reach $6.17 billion.
Amazon postponed the event after struggling to meet a surge in online ordering at the outset of the pandemic. The shift away from summer and closer to Black Friday may have dampened some spending, as spending per household on Amazon’s site during the event fell about 28% from last year.
The company is leading a pack of major retailers in showing how online spending will play a greater role than ever these holidays, especially for the most dominant companies, as the overall retail picture during the shopping season remains shaky. Many retailers plan to close stores on Thanksgiving and are offering Black Friday deals online during November and December to reduce crowds. Read the full story.