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Retailers log $7.9 billion in online sales in first 24 hours of Prime Day

  • U.S. online sales reached $7.9 billion on the first day of Amazon's Prime Day, a 9.9% increase from the previous year.
  • Amazon's Prime Day event, which began on Tuesday, is the largest single e-commerce day so far this year, surpassing Thanksgiving sales from last year.
  • Various retailers such as Walmart, Target, and Best Buy have launched their own sales events to compete with Prime Day.
  • Overall, online sales during Prime Day are expected to reach $23.8 billion, with concerns about the impact of tariffs lingering for retailers and consumers.

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