Amazon’s Prime Day is off to a strong start, lifting third-party sellers’ and other retailers’ online sales, early data shows.
“In the midst of a slower consumer spending environment, we believe Amazon’s Prime Day 2023 created a spark of spending across retail,” Telsey Advisory Group analysts wrote in a note to clients Wednesday. The firm maintains an outperform rating on Amazon’s stock. “The company seems to have successfully leveraged its relationship with brands — which have seen softer trends due to a tough environment — to offer good deals and attract shoppers.”
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