July 15 Reuters Shoppers are likely to spend roughly 14 billion during Amazon39;s Prime Day twoday shopping event this week, according to projections from Adobe Analytics, a firm that studies ecommerce transaction data.

Spending at Amazon on Tuesday and Wednesday could rise 10.5 from Prime Day 2023, Adobe said.

The online retailer began holding Prime Day a decade ago, typically in July. Prime Day accounts for 1 to 2 of Amazon39;s net global sales, according to CFRA Research.

Amazon started advertising prePrime Day deals in early July on clothes, backtoschool gear, wellness products and electronics, though it moved Prime Day back by five days on the calendar this year.

Amazon said that Day 1 of its twoday Prime Day 2023 earned its biggest sales day ever, although it doesn39;t disclose total sales for Prime Day.

The 12.7 billion shoppers spent at Amazon last year during Prime Day was 6.1 more than what they spent during the 2022 event, according to Adobe.

WHY IS IT IMPORTANT?

Amazon39;s Prime Day has turned July, an otherwise slow time for retailers, into a season when shoppers look for bargains, especially on backtoschool clothing, electronics, uniforms, backpacks, dorm decorations and supplies.

Rivals Walmart and Target are also launching July discounts and marketing events in a bid to beat Amazon at its own game, and capture some of the 38.8 billion that the National Retail Federation trade group projects Americans will spend on backtoschool merchandise this…