JPMorgan: Amazon Prime Day sales could reach up to 8 billion dollars

Amazon launched its 12th annual Prime Day event on Tuesday. This four-day event offers millions of deals in over 35 countries. It is the first time Prime Day is being held in the second quarter since 2021. JPMorgan analysts believe that holding the event earlier will help Amazon generate more demand while avoiding the impact of the World Cup and the United States’ 250th anniversary celebrations. JPMorgan analysts expect third-party sales during the event to see an average daily growth rate of 6%, and direct sales to see an average daily growth rate of 7%.