Anthropic CEO Meets Trump Officials to Discuss Powerful New AI Model Mythos 
How Technology Is Reshaping Modern Business: From Operations to Customer Experience 
SpaceX President Gwynne Shotwell Earns $85.8M as IPO Buzz Grows 
Nidec Stock Rises After Accounting Probe Report Eases Delisting Concerns 
Huawei Expands Vietnam Presence Through Strategic Partnership with SHB Bank 
Chinese Robotics Stocks React as Humanoid Robot Marathon Sparks Competition Concerns 
John Ternus Signals Apple’s Future with Product-First AI Strategy 
Indian Refiners Use Yuan via ICICI Bank to Pay for Iranian Oil Under U.S. Sanctions Waiver 
J.P. Morgan Downgrades Essity AB on Rising Costs and Weak Earnings Outlook 
Ethiopian Airlines Expands Fleet with New Boeing 787 Dreamliner Order to Boost Global Routes 
Apple Stock Dips as Tim Cook Steps Down, John Ternus Named Next CEO 
Eli Lilly in Talks to Acquire Kelonia Therapeutics for Over $2 Billion 
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe 
Tesla Q1 Earnings Preview: Robotaxi Delays and SpaceX Merger Speculation Grow 
Elon Musk Faces French Probe Over X and Grok Amid Rising U.S.-EU Tensions 
Want to cut your energy bills? Here’s how five experts are doing it 
OPmobility Reports Q1 Revenue Dip Amid Automotive Industry Slowdown 
Adobe predicts a record $14 billion spending during Amazon's Prime Day this week, a 10.5% increase from last year. The two-day event is expected to see significant discounts on electronics, apparel, and more, signaling strong momentum for back-to-school shopping.
Adobe Predicts Record $14 Billion Spending During Amazon Prime Day, Fueled by Deep Discounts
Adobe, a data analytics firm, predicted that shoppers will spend a record $14 billion during Amazon's Prime Day two-day online extravaganza this week.
The purchasing frenzy commencing on June 25 is anticipated to increase by approximately 10.5% from the previous year, a critical indicator of the crucial back-to-school shopping season, according to New York Post.
While Amazon initiated the event a decade ago, numerous retailers, including some of its largest competitors, such as Walmart and Target, have replicated its strategy by organizing their purchasing discounts in July. Target and Walmart have already conducted their festivities.
Adobe anticipates that the record spending over the next two days will be fueled by steeper-than-average discounting.
Significant discounts on various items, including electronics, apparel, sporting goods, and furniture, are anticipated to be between 9% and 22%.
“We are expecting really strong momentum for back-to-school,” said Vivek Pandya, Adobe’s lead insights analyst.
Online Spending Soars 80% in Early July, With Electronics Leading Prime Day Discounts
The data firm reports that online spending has increased by 80% from July 1-7 in comparison to the same period in June.
The report indicates that electronics will receive the most significant discounts, with a 22% reduction from 14% last year. Apparel will be discounted by 20%, compared to 12% last year, and home goods and furniture will be discounted by 17%, compared to a mere 9% reduction last year.
Adobe reports that e-commerce prices have decreased for 22 consecutive months, with a 4.2% decrease in June compared to a year ago.
Similarweb, a data intelligence firm, reported a 10% revenue increase from Amazon purchasing activity from January to May.
The average selling price on Amazon has decreased by 3% during the same period, according to Similarweb.
According to CFRA Research, Amazon Prime Day has become increasingly significant, contributing as much as 2% of the online conglomerate's global revenues.
