Amazon Prime Day is expected to drive a record-breaking £1.2 billion of online spending over the two days, according to new research from Adobe Digital Economy Index. The data shows that Prime Day (11 July and 12 July) will see a 92% increase in customer spending when compared with normal spending levels.

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The research, which was based on Prime Day spending figures from 2021 and 2022 and online spending trends in the UK for the year-to-date, suggests that customers are taking advantage of the extra value on offer amid the ongoing cost-of-living crisis and rising inflation. In 2021, Prime Day’s online spend reached £1.1 billion, which represented an increase online spend of 77%. This figure rose to 87% in 2022.

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Vivek Pandya, lead analyst at Adobe Digital Insights, commented on the findings: “With inflation and interest rates continuing to put pressure on consumer spending, big discounting events like Prime Day are increasingly seen as an opportunity to get extra value by consumers. We expect 2023 to be a record year for Prime Day spending and also to see increased use of Buy Now Pay Later to spread the cost of purchases over the longer term.”

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Amazon is ranked as an Elite retailer in RXUK Top500 research, which highlights how the leaders in this market are proving flexible and adaptable in response to the Covid-19 pandemic, Russia’s invasion of Ukraine – and the knock-on effects from rising energy costs leading to inflation.

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Sources: https://internetretailing.net/amazon-prime-spend/