Adobe Predicts 6.2% Growth in Fall Prime Day Sales, Impacting U.S. Online Retail

What's Happening?

Adobe has forecasted a significant 6.2% year-over-year growth in sales during the upcoming fall Prime Day event, known as Prime Big Deals Days, scheduled for October 7-8. This event, which mirrors the summer Prime Day, is not exclusive to Amazon, as major retailers like Walmart, Target, and Best Buy also participate by offering their own deals. Adobe anticipates that U.S. online shoppers will spend approximately $9 billion over the two-day period, with discounts reaching up to 17% off listed prices. The use of buy now, pay later (BNPL) services is expected to contribute $723 million in sales, marking an 8.1% increase from the previous year. Additionally, mobile shopping is projected to account for 50.5% of the total spend, amounting to $4.55 billion, which represents a 12.7% increase from last year.

Why It's Important?

The forecasted growth in sales during the fall Prime Day event highlights the increasing importance of online shopping in the U.S. retail landscape. As more consumers turn to digital platforms for their purchases, retailers are compelled to enhance their online presence and offer competitive deals to capture market share. The anticipated rise in mobile shopping underscores the shift towards more convenient shopping experiences, which could drive further innovation in mobile commerce. The significant role of BNPL services indicates a growing consumer preference for flexible payment options, which could influence future retail strategies. This trend may also impact traditional brick-and-mortar stores, as they face increased competition from online retailers.

What's Next?

As the fall Prime Day event approaches, retailers are likely to intensify their marketing efforts to attract consumers and maximize sales. The event is expected to set the tone for the upcoming holiday shopping season, which Adobe predicts will see a 5.3% increase in U.S. online sales, reaching $253.4 billion. Retailers may continue to expand their digital offerings and explore new technologies to enhance the shopping experience. The success of the fall Prime Day could also prompt other retailers to create similar events, further extending the holiday shopping season. Additionally, the performance of BNPL services during this period may encourage more retailers to adopt these payment options.