Amazon employees load packages on carts before being put on to trucks for distribution for Amazon's annual Prime Day event at an Amazon's DAX7 delivery station on Tuesday, July 16, 2024, in South Gate, Calif. (AP Photo/Richard Vogel)
NEW YORK (AP) — Amazon saw record sales for Prime Day this week as Prime members purchased more items than ever before, the company announced Thursday.
The Seattle e-commerce giant, which does not disclose how much it earns during the popular discount event, also said “millions” of customers joined Prime in the past three weeks to take advantage of the discount event, which ended right before midnight Pacific Standard Time on Thursday.
“Prime Day 2024 was a huge success thanks to the millions of Prime members globally who turned to Amazon for fantastic deals,” Doug Herrington, an Amazon executive who leads the company’s Prime and online shopping business, said in a statement included in the announcement.
Data from some third-party groups also indicated shoppers spent more this year during the two-day event.
Adobe Analytics, which tracks online sales, said consumers spent $14.2 billion on Tuesday and Wednesday, up 11% compared to last year.
Adobe noted the growth was driven partly by back-to-school shopping with big spikes in spending for products such as backpacks, lunchboxes and other stationary supplies. Consumers also spent more on electronics and home appliances, it added.
Adobe's numbers are not adjusted for inflation. However, it said consumer spending this year has not been driven by higher prices, but new demand. It pointed to its own data, which shows online prices have fallen for 22 months and were down 4.2% year-over-year in June.
Last week, the Labor Department reported overall consumer prices declined 0.1% from May to June after having remained flat the previous month.
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
