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Amazon's 2018 Prime Day Is Biggest Sales Event In Company History

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Amazon's 2018 Prime Day Is Biggest Sales Event In Company History

As portended by the early site crash, Amazon.com, Inc. (NASDAQ: AMZN)’s fourth annual Prime Day marked the e-commerce site’s biggest shopping event in history.

What To Know

The 36-hour sale saw a record number of Prime members across 17 countries capitalize on more than 1 million deals and purchase more than 100 million products, surpassing Amazon’s Cyber Monday, Black Friday and previous Prime Day records.

Meanwhile, the site’s small- and medium-sized vendors exceeded $1 billion in sales.

The day’s best sellers, the Echo Dot and Fire TV Stick with Alexa Voice Remote, led Amazon’s biggest ever event for Amazon devices, while organic strawberries led a concurrent rush at the company’s Whole Foods Market.

Why It’s Important

Amazon recognized an immediate influx of revenue with millions of Fire TV sales, record U.S. sales for Ring and smart-home devices, and record global sales for Kindle and Echo devices.

It also guaranteed continued returns with significant subscription growth. The first day set a record for new Amazon Prime members.

The integration of Twitch Prime and Amazon Music ensured that the consumer expansion touched the entire Amazon ecosystem and introduced clients to diverse revenue channels.

Amazon's stock spiked at Wednesday's open, but abruptly fell to trade down marginally around $1,844 at time of publication.

Related Links:

Breaking Down Retailers' Love-Hate Relationship With Amazon Prime Day

The Rise Of An Empire: All The Ways Amazon Grew Even Bigger Under Trump's Nose

Posted-In: Amazon Prime Amazon Prime Day Black Friday Cyber MondayNews Retail Sales Top Stories Tech Best of Benzinga

 

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