Online retail sales in the United States during Amazon’s 48-hour Prime Day event have surpassed record levels of e-commerce spending reached during Cyber Monday last year, according to a new report.
Total e-commerce sales on Monday and Tuesday surpassed $11 billion, representing 6.1% growth compared with last year’s October Prime Day event, according to an index tracked by Adobe Analytics, which looks at more than 1 trillion visits to U.S. retail sites and over 100 million items across 18 product categories.
Online retail sales amounted to $5.6 billion on Monday, the first day of Prime Day, and $5.4 billion on day two, Adobe said. That made Monday the biggest day for digital sales so far this year, and Tuesday the second-biggest day, Adobe added.
Last holiday shopping season, sales during Cyber Monday amounted to about $10.9 billion, marking the largest U.S. online shopping day on record.
“There’s a pent up demand for online shopping as consumers look forward to a return to normalcy,” said Taylor Schreiner, director of Adobe Digital insights. “The halo effect of Prime Day also played a significant role, giving both large and small online retailers significant revenue lifts.”
Adobe said that retailers that bring in more than $1 billion in revenue each year reported a 29% increase in e-commerce sales during Prime Day compared with an average June day, while smaller retailers doing less than $10 million in annual revenue saw a 21% lift.
Adobe also found that discount levels were fairly consistent on Monday and Tuesday, with toys marked down by 12%, on average, and appliances discounted by 5%. It still said the best deals are expected to come closer to the holiday shopping season.