Amazon's Prime Day Sets New Record with $24 Billion in Online Spending

Amazon's Prime Day sales event drove $24.1 billion in online spending, a 30% increase from last year. The event was the company's biggest sales event ever, with record sales and more items sold than any previous discount period. Competitors like Walmart and Target also held sales events, but Amazon expects revenue across its brands to increase 9.7% from last July. AMZN stock has a consensus Strong Buy rating among analysts, with an average price target of $250.95.

Amazon's Prime Day 2025 has been a resounding success, setting new records for online sales. The four-day event, which ran from July 8 to July 11, generated $24.1 billion in online sales, a 30% increase from the previous year [1]. This performance has analysts predicting a potential upside of nearly 10% over the next 12 months, with an average price target of $247.14 [1].

The extended duration of Prime Day, which this year spanned four days instead of the typical two, may have contributed to the increased sales. Shoppers took advantage of the extended period to secure deals across a wide range of product categories, including electronics, beauty, and household essentials [1]. Prime members purchased millions of Alexa-enabled devices, with the Ring Battery Doorbell and Fire TV Stick HD being among the best-selling items [1].

However, the event was not without its challenges. Momentum Commerce, which manages online sales for 50 brands, reported a 41% drop in Amazon sales on the opening day compared to the start of Prime Day last year [2]. The extended duration of the sale may have led some customers to postpone their purchases, anticipating better deals later in the event [2]. Despite this initial dip, overall sales held strong, with online sales across U.S. retailers rising nearly 10% to $7.9 billion during the first day of Prime Day 2025, according to Adobe Analytics [2].

The sentiment around Amazon shares was largely positive, with AMZN shares rising 1.5% on Wednesday and retail sentiment shifting to 'extremely bullish' on Stocktwits [2]. Amazon responded to the mixed response, stating that third-party consultancies do not have complete data and that Momentum's figures are "highly inaccurate" [2].

Amazon's Prime Day 2025 not only showcased the company's ability to drive significant sales but also highlighted the growing influence of extended shopping events on consumer behavior. As economic uncertainties continue to shape consumer spending, events like Prime Day will remain crucial in understanding the broader trends in the retail market.

References
[1] https://finance.yahoo.com/news/amazon-prime-day-2025-delivers-160000389.html
[2] https://stocktwits.com/news-articles/markets/equity/amazon-prime-day-2025-sees-mixed-response-on-day-1-retail-traders-still-upbeat/chF6soGR51J