AMAZON PRIME DAY SET TO LIFT US ONLINE SALES TO $23.8 BILLION, ADOBE ESTIMATES

Online spending is expected to surge to $23.8 billion across U.S. retailers during a 96-hour Amazon Prime Day event this week, according to an Adobe Analytics forecast released on Monday, as shoppers seek strong discounts on back-to-school gear ranging from apparel to electronics.

Sales from July 8 to 11 are projected to rise 28.4% compared with the same period last year. Retailers recorded online sales worth $14.2 billion during the two-day Amazon shopping event last July.

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