What the numbers say: Amazon Prime Day generated $12B in worldwide sales in 2022, up slightly from $11.2B in 2021. Relevance: First launched in 2015, Amazon Prime Day has become one of the major annual shopping events in the U.S. and countries around the world. Worldwide sales generated from the event increased rapidly from $4.19B in 2018 to $10.4B in 2020. Growth slowed from 2020 until 2022 due partly to global supply chain issues. What's next: Rumors have circulated that Amazon may cancel its Prime Day sales event after 2023. The rumors come even though U.S. e-commerce sales during this year's Prime Day event grew 6.1% to $12.7B, according to Adobe Analytics. Amazon Prime Day sales growth fell below some analysts' expectations of 9.5% YoY. Nonetheless, the strong performance of the event has been taken as a signal that online retail spending remains more robust than feared as high inflation and economic uncertainty continue to pressure consumer budgets. |
