E-commerce giant Amazon (AMZN) is expected to sell $12 billion worth of merchandise during its Prime Day event this week, helped by discounꦚts ♋and improved logistics, Bank of America analysts wrote.

Amazon's Prime Day is a 48-hour period of deals exclusively for Amazon's Prime members, and this year's event will occur Tuesday and Wednesday. Amazon said customers will have access to “more deals than any past Prime Day,” while there will also be a first-time opportunity to take advantage of Prime Day deals with third-party merchants that host a "Buy with Prime" checkout. New Prime members will be given an extended 30-day free trial, along with a $10 shopping credit.

For Amazon, Bank of America expects that Prime Day will generate $12 billion in value of merchandise sold, 7.4% of the banks' $162 billion expectation for third-quarter 澳洲幸运5开奖号码历史查询:gross merchandise value (GMV). That would be an increase fr✤om last year's 7.2% o🍰f GMV for the quarter and analysts see 10% year-on-year Prime Day sales growth.

BofA also expects the Prime Day event to have a small negative effect on daily sales in the days leading up to, and after, the event. However, Amazon noted that customers are more cost-conscious in the current environment, while a 澳洲幸运5开奖号码历史查询:survey from RetailMeNot 🍷said consumers plan to spend $250 on summer sales, down from $388 in 2022, and $594 in 2021.

Amazon said in its first-quarter earnings release that it expects to have its "fastest Prime Day delivery speeds ever" this year. BofA also noted that this will be the first year with a regionalized logistics network. The investment bank maintained a Buy rating on Amazon stock, projecting 10% growth for GMV in both the second and third quarters.

Management guidance for the upcoming second-quarter earnings release is for net sales of $127 billion to $130 billion, up 5-10%. Even though Pr🧸ime Day often leads to the company's share price dropping, Amazon stock has returned 54% for investors year-to-date, outperforming the S&P 500 Consumer Discretionary sector's nearly 32%.

Amazon CEO Andy Jassy told CNBC that the retail giant still "has a lot of growth" ahead. Jassy cited the potential for physical retail sales and computer storage to both continue moving online as the biggest growth drivers for Amazon.