Running today and tomorrow, Amazon’s summer Prime Day event is expected to trigger a record US$14 billion in spending, according to a new forecast published by Adobe.
The software developer draws data from its Adobe Analytics platform, which tracks more than a trillion visits to e-commerce sites and 100 million product SKUs across the US annually. If Amazon hits the US$14-billion projection, it will outpace last year’s spending total by 10.5%.
Consumers are expected to spend upwards of US$7.1 billion today and US$6.9 billion tomorrow. And day one is forecast to be the biggest mobile shopping day of the year so far, with Adobe pegging these sales to hit US$3.4 billion and represent a 48.4% share of total spending compared to desktop shopping.
Prime Day promotions are also a critical time for parents, with the National Retail Federation noting in its latest poll that 85% of back-to-school shoppers in the US plan to take advantage of this year’s sales. More than half of the survey’s 8,952 respondents have already begun their shopping, and parents are expected to spend an average of US$874.68 for each of their K-12 children this year. By category, this breaks down as follows: Electronics (US$309.35), clothing and accessories (US$253.29), school supplies (US$141.62) and footwear (US$170.43).