:

AMAZON PRIME DAY SPENDING SET TO HIT $26.3B

INDUSTRY DESK1 MIN READ
TUE, JUN 23, 2026

■ AI-SUMMARIZED FROM 5 SOURCES ▸ TIMELINE

Online spending during Amazon's 12th annual Prime Day sale is projected to reach $26.3 billion, a 9% increase from last year. The surge reflects shoppers seeking deals on back-to-school items and household goods amid rising gas prices.

Amazon Prime Day begins Tuesday, marking another record-breaking sales event for the e-commerce giant. The $26.3 billion forecast reflects sustained consumer demand despite economic headwinds. Back-to-school shopping and household essentials are expected to drive much of the spending increase. Higher gas prices are pushing more consumers toward online purchasing as an alternative to in-store shopping. The 12th iteration of Prime Day continues Amazon's tradition of leveraging member exclusivity to drive sales volume. The two-day event has grown significantly since its inception, becoming a major shopping occasion alongside traditional retail holidays. Retailers beyond Amazon have also capitalized on the timing, launching competing promotions during the period to capture spending from price-conscious shoppers.

■ SOURCES

Bloomberg TechThe VergeWiredWiredWired

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

■ MORE FROM THE BUSINESS DESK

South Korean stocks fell 10% from record highs as investors sold off chip stocks amid concerns the rally had become overextended. The Kospi index declined sharply, with trading suspended for 20 minutes by the Korea Exchange.

2H AGOIndustry Desk

US technology stocks are joining a global selloff as market participants recalibrate their positions on artificial intelligence investments. PNC Asset Management Group's Chief Investment Officer Amanda Agati characterized the pullback as a healthy correction following an exceptional rally.

2H AGOIndustry Desk

Walmart has acquired Paris-based Vibe.co for $1.4 billion in cash, gaining technology that enables businesses to create and run targeted ads on streaming services and connected TVs. The deal includes retention bonuses of $180 million for top executives over four years.

4H AGOIndustry Desk

Ludovic Subran, chief investment officer and chief economist at Allianz, says markets are beginning to price in the competitive pressures that artificial intelligence will create across industries.

4H AGOAI Desk

■ SUBSCRIBE TO THE DAILY BRIEF

ONE EMAIL, 5 STORIES, 06:00 UTC. UNSUBSCRIBE ANYTIME.