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PRIVACY
Retail & Consumer

Amazon Prime Day: Brits set to splash £1.9bn as Amazon discounts sweep º£½ÇÊÓÆµ

The US is set to see $20bn splashed out by consumers during the midsummer sale, according to Parcelhero head of consumer research David Jinks.

(Image: georgeclerk via Getty Images)

A four-day Prime event is anticipated to see Brits splashing out £1.9bn, as consumers increasingly seek deals and discounts for their shopping.

Retailers are optimistic that the discount extravaganza will provide a much-needed boost following a challenging first half of the year, and an opportunity to get a head start on what is predicted to be a difficult second half, as reported by .

"There's little doubt that both shoppers and sellers are set to gain from the midsummer madness of Prime Day," David Jinks, Parcelhero's head of consumer research, said.

If º£½ÇÊÓÆµ sales hit £1.9bn and US sales reach £20bn, this would signify a 60 per cent year-on-year growth rate for the event.

"The thinking is that a strong event now might help to offset a bumpy second half of the year," Jinks added.

Online spending totalled £49.7bn in the first half of the year, according to research from Adobe – a 1.6 per cent increase in what was once a consistently growing area.

Low confidence, inflation and high interest rates have deterred spending; demand for discounted items has driven sales for nearly a year straight.

This poses a particular problem for small traders, who operate on razor-thin margins and can't afford to drop prices as much as larger retailers.