


U.S. consumer health remains a mixed picture. Goldman Sachs sees signs of cautious optimism, while UBS highlights a rebound in confidence among low-income households. Still, stubborn inflation and high interest rates persist, casting a dark cloud over long-term outlooks.
New data from Momentum Commerce offers an early snapshot of Amazon's Prime Day performance, with sales down 14% in the first four hours compared to the same period last year, according to Bloomberg. It's not the kind of number investors were hoping to see as a high-frequency snapshot of midsummer consumer sentiment, and it may signal deeper caution among shoppers.
Momentum Commerce, which manages $7 billion in Amazon sales across brands like Crocs and Beats, provides uniquely valuable data often viewed as a barometer of consumer sentiment and the broader U.S. economic outlook. Investors appeared to take the report negatively, with Amazon shares down 1.5% in early afternoon trading in New York.
Bloomberg noted weaknesses could be attributed to:
Other observations of the sale:
Ah, yes, the usual malarkey from Amazon sellers...
Consumers aren't rushing to panic-buy junk from China on the e-commerce platform. While multiple factors may be at play, one undeniable reality remains: as we've noted repeatedly, the consumer is still under pressure.