“We find that spending was higher in the impacted states, particularly in groceries, utilities and gasoline. Indeed, once the heat wave started on July 13th, the growth rate in spending in the impacted states diverged, ” the economists said in a note.
Data after this year’s Prime Day showed that shoppers spent more than 10 times as much money on Amazon during the first 24 hours of the event than they did on Walmart and eBay combined. In fact, sales in the first 24 hours were up 53 percent compared to the same period of last year’s Prime Day, while sales over the two days this year surpassed those on Black Friday and Cyber Monday combined.
In addition, Amazon said it added more new Prime members on July 15 than any other day, and almost as many on July 16 — making them the two biggest days ever for new member signups.
