Amazon Prime Day’s $11 Billion in Sales Surpass Previous Record
Amazon’s mega-sale reached new levels this year. According to a new report, the 48-hour Prime Day event surpassed $11 billion in sales, passing record highs of e-commerce spending on Cyber Monday last year, reports CNBC. Cyber Monday sales last year amounted to $10.9 billion.
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The $11 billion in sales Monday and Tuesday represented 6.1% growth compared to last year’s October Prime Day event, according to an index tracked by Adobe Analytics and as reported by CNBC. Adobe said sales amounted to $5.6 billion on Monday and $5.4 billion on the second day. In a statement released by Amazon, the company announced that Prime members purchased more than 250 million items worldwide and saved more than any previous Prime Day.
It was also a big year for small and medium-sized businesses. During the two weeks leading up to the Prime Day event, Amazon stated that customers spent $1.9 billion on small business products during the Spend $10, Get $10 promotion period — more than a 100% year-over-year increase compared to the Prime Day October 2020 promotion.
“There’s a pent up demand for online shopping as consumers look forward to a return to normalcy,” said Taylor Schreiner, director of Adobe Digital insights and as reported by CNBC. “The halo effect of Prime Day also played a significant role, giving both large and small online retailers significant revenue lifts.”
CNBC added that retailers that bring in more than $1 billion in revenue each year reported a 29% increase in e-commerce sales during Prime Day when compared to a typical day in June, according to Adobe. Smaller retailers saw a 21% increase.
Better deals are expected to come later this year with bargains across all retail categories.
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Last updated: June 23, 2021