With another Prime Day successfully in the books, online retailer par excellence Amazon (NASDAQ:AMZN) saw its share price tick up nicely as a result. The panoply of deals provided an excellent reason for shoppers to commit some discretionary income, and the numbers that emerged were quite impressive.
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Based on reports from Adobe Analytics, online sales during Prime Day’s two-day run were up 6.1% against last year’s Prime Day, hitting $12.7 billion total. Sales were almost perfectly split between the two days, as shoppers ponied up $6.3 billion just on the second day. Amazon further elaborated, saying that shoppers picked up over 375 million items for a combined cost savings of over $2.5 billion. Prime Day proved to be popular with other retailers, too, as stocks for retailers from ContextLogic (NASDAQ:WISH), Pinduoduo (NASDAQ:PDD) and JD.com (NASDAQ:JD) were up in Thursday’s trading.
What’s more, the deals aren’t exactly over, either. The event may be over, but several deals—CNN listed 45 such deals—are actually still in play. From furniture to beauty products and beyond, Amazon is still working the Prime Day crowds to bring in a few more buyers, a move sure to strike a chord with investors and analysts alike.
Amazon might be the leader in online retail, but it’s got no shortage of competition. ContextLogic is the laggard in the field, with an 11.44% downside risk on its $8.36 average price target. It’s also got an analyst consensus of Moderate Sell. The other three are Strong Buys by consensus, but JD has an edge with its 52.07% upside potential on its $59.58 average price target.
