Amazon Prime Day boosts US online consumer spending to $14.2 billion, reaching a record high

According to information from the Zhitong Finance and Economics APP, based on data from Adobe Analytics, during the 48-hour "Prime Day" event held by Amazon (AMZN.US), online consumer spending in the United States surged by 11% year-on-year to reach $14.2 billion, exceeding expectations and setting a record. Adobe stated that this strong consumer performance was mainly driven by back-to-school shopping and a "significant product update cycle", with consumers purchasing a large number of new tablets, TVs, and Bluetooth speakers. This is different from last year when, due to inflation, consumers mainly purchased essential household items such as food and office supplies during discount events. The company predicted that U.S. consumers would spend $14 billion online during the two-day event. Adobe not only tracks transactions on Amazon but also covers major retail websites in the United States. Amazon's Prime Day event took place on Tuesday and Wednesday this week and has become a significant source of revenue for other retailers, who typically launch competitive sales activities during Prime Day. Amazon stated on Thursday that its Prime Day revenue also reached a "historical high", although the total sales figure was not disclosed. The company claimed that its Rufus shopping assistant helped "millions" of shoppers browse the website. Rufus uses generative artificial intelligence to recommend products and provide order updates, and Amazon opened it to all U.S. users last week after testing it with only a portion of shoppers before. Numerator tracked the purchasing behavior of over 35,500 households, and the data shows that this year shoppers spent an average of $57.97 per order, higher than last year's $54.05. Shoppers rushed to buy Amazon-branded Fire TV sticks, Premier protein shakes, and Liquid IV hydration drinks, while household and essential items as well as clothing and shoes were also popular categories. Numerator analyst Amanda Schoenbauer stated: "Shoppers bought fewer big-ticket items than in previous years, and the number of multiple orders placed by participants has also decreased, indicating that consumers are shopping more rationally and are more inclined to save rather than splurge." On Thursday, Amazon's stock price followed the overall decline in the U.S. stock market, with the Nasdaq and S&P 500 indices falling, and the stock closed down 2.22% at $183.75