Amazon’s rivals are enjoying a Prime Day bump in sales, Adobe says

The Amazon website is seen on a smart phone on July 14, 2019 in Orlando, Florida.

Paul Hennessey | NurPhoto | Getty Images

Amazon‘s Prime Day is fueling other retailers’ online sales, an early reading shows.

On Monday, the first day of Amazon’s 48-hour shopping extravaganza this year, retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital sales compared with an average Monday, according to Adobe Analytics. That’s better than a 54% spike last year, said Adobe, which measures transactions at 80 of the top 100 internet retailers in the U.S.

Niche retailers, which Adobe classifies as those that bring in less than $5 million in annual sales, saw a 30% increase in online sales on Monday, according to the firm.

Adobe said Amazon’s Prime Day is now the third period outside of the holiday season during which online sales in the U.S. will top $2 billion, like they did on Labor Day last year and Memorial Day this year.

Amazon’s Prime Day kicked off at 3 a.m. ET on Monday and runs for 48 hours, the longest in the event’s history. Last year, Prime Day lasted 36 hours.

Other retailers including Walmart, Target, eBay, Macy’s and Best Buy have been touting deals this week to compete.

Amazon shares are up more than 34% this year, bringing its market cap to more than $995 billion.

This is a developing story. Please check back for updates.

Be the first to comment

Leave a Reply

Your email address will not be published.