Amazon Prime Day is expected to drive £1.2 billion of online spending over the two days, new research has revealed.
According to the Adobe Digital Economy Index, 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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Based on Prime Day spending figures from 2021 and 2022 and online spending trends in the UK for the year-to-date, customers will take advantage of the extra value on offer amid the ongoing cost-of-living crisis and rising inflation.
According to the data, in both 2021 and 2022, Prime Day’s online spend reached £1.1 billion, which represented an increase online spend 77% in 2021 and 87% in 2022, respectively.
“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,” Adobe Digital Insights lead analyst Vivek Pandya said.
“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.”