Amazon's Prime Day Challenge

Amazon's annual Prime Day event is expected to set new records despite economic concerns. The event, seen as an indicator of shopping patterns, comes at a crucial time for the e-commerce giant, as its online store's growth rate has slowed, its cloud-computing business has cooled, and job cuts have hit its workforce. While Amazon's overall revenue growth has been below 10% in recent quarters, it is projected to make approximately $12.9 billion from this year's event, up 11% from last year. Prime Day is crucial for Amazon to attract more subscribers to its Prime service, and it is estimated that there will be nearly 300 million Prime members by the end of the year.