Amazon Stock Falls as Prime Day Spending Data Shows Shifting Consumer Behavior
Amazon's stock declined ahead of its second-quarter earnings report, with analysts pointing to a shift in consumer spending patterns revealed by recent data. While overall online sales during the four-day 2026 Amazon Prime Day reached $26.4 billion — up 9.3% year-over-year according to Adobe Analytics — key metrics such as average order and household spending dropped compared to last year, signaling a potential diversification of consumer shopping behavior across multiple retailers. Numerator data showed the average Prime Day order in 2026 was $47.66, down from $53.34 in 2025, while average household spending fell to about $143.45 compared to $156.37 a year earlier. Competing retailers like Walmart and Target saw increased store traffic during the same period, suggesting consumers are spreading their purchases rather than concentrating them on Amazon. The stock has fallen 8.26% over three months but remains up slightly for the year at +1.4%. The decline comes amid broader tech sector pressure following Alphabet's earnings report and concerns about AI infrastructure costs.
