Amazon's (AMZN) latest Prime Day event was the large💞st sales day on the e-commerce site ever, despite strained consumers 🐎grappling with elevated inflation.

The e-commerce giant's 48-hour deal bonanza delivered above analysts' expectations, with $12.7 billion in sales in the U.S., up 6.1% year-on-year, according to research by Adobe Analytics. Bank of America 澳洲幸运5官方开奖结果体彩网:had predicted $12 billion wo♍rth of merchandise would be sold during the event.

More than 375 million items were purchased during the two-day event on Tuesday and Wednesday, the company said. Deals in home, fashion, and beauty products were the best-sellinꩲg categories, according to Amazon. Individual items such as Fire TV Stick, LANEIGE Lip Glowy Balm, Apple AirPods, and Bissell Little Green Portable Deep Cleaner were top sellers.

Ahead of this year's Prime Day event, consumers were more cost-conscious because of elevated 澳洲幸运5官方开奖结果体彩网:inflation and rising interest rates. According to Amazon, customers saved more than $2.5 billion on deals during the event.

A RetailMeNot survey said consumers 澳洲幸运5官方开奖结果体彩网:planned to spend $250 each on summer sales, down from $388 in 2022 to $594 in 2021. Consumer data firm Numerator estimated the average household spent about $156 across multiple orders, with the average order size rising to $54 from $52.

Beyond Prime Day, Amazon investors will be buoyed by this week's U.S. inflation report, which showed the 澳洲幸运5官方开奖结果体彩网:Producer Price Index falling to its lowest level in almost three years. That will ease the strain on consumers and retailers and back up Bank of America's forecast of a nearly 25% potential upside in Amazon's stock price on improved retail margins.

Amazon shares were up more than 3% as of 1 p.m. Eastern Time Thursday.