Amazon Prime Day expected to drive $26.3 billion in online sales

Investing.com -- Amazon.com Inc. will begin its 12th annual Prime Day sale Tuesday, with the four-day event projected to generate $26.3 billion in online spending across Amazon and competing retailers, according to Adobe Inc.

The forecast marks a 9% increase from last year's July event. Adobe tracks visits to retail sites to compile its data.

Walmart Inc. and Target Corp. will run concurrent sales events. Consumer research from digital marketing agency Tinuiti shows nearly 60% of Amazon Prime Day shoppers plan to browse Walmart, while 35% will visit Target. The survey was conducted in April.

Amazon first introduced Prime Day in 2015 to grow its subscription base. Prime membership costs $139 annually and includes shipping discounts, video streaming and additional services.

Consumer Intelligence Research Partners reported that approximately 201 million U.S. Amazon shoppers held Prime subscriptions as of March, representing a 3% year-over-year increase.

EMarketer Inc. estimates Amazon will account for roughly 60% of total U.S. online spending during Prime Day, marking its largest market share since 2019.

Adobe expects discount levels to match those offered during last year's event.

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