Executive Briefing
Is Prime Day working?
Also: Liquid Death IPO vibes and the Haus rebuild.
By Dan Frommer on Saturday, July 15, 2023 at 8:00 am
Amazon held its annual faux shopping holiday, Prime Day, this week. Without providing dollar amounts, Amazon said the first day of the two-day promotion — Tuesday, July 11 — was the “single largest sales day in company history.”
As it’s become common for other merchants to offer discounts those days, too, it was also a “record Prime Day” in terms of broader US online shopping activity.
A few figures making the rounds via Adobe, which tracks e-commerce spending: That US consumers spent a total $12.7 billion shopping online across all merchants those two days, representing 6.1% year-over-year growth. And that this was actually below Adobe’s prediction of 9.5% growth, according to Bloomberg.
Is Prime Day working, then?
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