Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Visa to Move European Headquarters to London’s Canary Wharf 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Adobe predicts a record $14 billion spending during Amazon's Prime Day this week, a 10.5% increase from last year. The two-day event is expected to see significant discounts on electronics, apparel, and more, signaling strong momentum for back-to-school shopping.
Adobe Predicts Record $14 Billion Spending During Amazon Prime Day, Fueled by Deep Discounts
Adobe, a data analytics firm, predicted that shoppers will spend a record $14 billion during Amazon's Prime Day two-day online extravaganza this week.
The purchasing frenzy commencing on June 25 is anticipated to increase by approximately 10.5% from the previous year, a critical indicator of the crucial back-to-school shopping season, according to New York Post.
While Amazon initiated the event a decade ago, numerous retailers, including some of its largest competitors, such as Walmart and Target, have replicated its strategy by organizing their purchasing discounts in July. Target and Walmart have already conducted their festivities.
Adobe anticipates that the record spending over the next two days will be fueled by steeper-than-average discounting.
Significant discounts on various items, including electronics, apparel, sporting goods, and furniture, are anticipated to be between 9% and 22%.
“We are expecting really strong momentum for back-to-school,” said Vivek Pandya, Adobe’s lead insights analyst.
Online Spending Soars 80% in Early July, With Electronics Leading Prime Day Discounts
The data firm reports that online spending has increased by 80% from July 1-7 in comparison to the same period in June.
The report indicates that electronics will receive the most significant discounts, with a 22% reduction from 14% last year. Apparel will be discounted by 20%, compared to 12% last year, and home goods and furniture will be discounted by 17%, compared to a mere 9% reduction last year.
Adobe reports that e-commerce prices have decreased for 22 consecutive months, with a 4.2% decrease in June compared to a year ago.
Similarweb, a data intelligence firm, reported a 10% revenue increase from Amazon purchasing activity from January to May.
The average selling price on Amazon has decreased by 3% during the same period, according to Similarweb.
According to CFRA Research, Amazon Prime Day has become increasingly significant, contributing as much as 2% of the online conglomerate's global revenues.
