In its seventh year, Amazon Prime Day has emerged as one of the biggest industry-wide shopping events of the year with total U.S. online spending that now rivals the peaks of the previous holiday season. Scheduled for June 21 and 22, the retail extravaganza is poised to smash records after the pandemic led many homebound consumers to sign up for a Prime membership in the past year. Walmart, Target and Kohl’s are among the retailers that have also announced competing sales events during this year’s Prime Day.
Amazon was estimated to have 147 million Prime subscribers in the U.S. as of March, a 25 percent gain from a year earlier. As many of those consumers hunt for deals and comparison-shop at other websites that also will be heavily promotional, Prime Day is expected to drive a surge in U.S. online spending for all sizes of retailers.
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If recent trends are any sign of what’s ahead, total U.S. online spend for Prime Day promises to surpass last year’s Cyber Monday, when U.S. e-commerce hit $10.9 billion to become the biggest shopping day of 2020, according to the latest Adobe Digital Economy Index. Overtaking Cyber Monday will be a major milestone after last year’s Prime Day spending of $10.4 billion (total for both days) exceeded the $9 billion for Black Friday and the $5.1 billion for Thanksgiving Day.