Amazon surpasses sales records with latest Prime Day

Amazon surpasses sales records with latest Prime Day

According to Bloomberg, Amazon Prime Day 2018 was the biggest in the company's history.

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July 24, 2018
Bloomberg
Industry News Retail News

From Bloomberg

Amazon.com Inc.’s fourth annual Prime Day event lured shoppers from around the world, highlighting the promotion’s evolution from a rummage sale of obscure products to 36 hours of discounts on major brands such as Samsonite luggage, Callaway golf clubs and General Mills cereals.

The promotion was the biggest shopping event in the company’s history, surpassing Cyber Monday, Black Friday and the previous Prime Day. Members bought more than 100 million products, Amazon said in a statement Wednesday.

It’s a sharp contrast from the first Prime Day in 2015, when customers kvetched on social media about underwhelming offerings that resembled a warehouse clearance sale. This year’s product depth demonstrates the leverage the e-commerce giant has when providing access to its loyal Prime subscribers who pay fees in exchange for shipping discounts, video streaming and other benefits. Many brands decided it’s smarter to offer steep discounts and pay Amazon for advertising to win sales on the site than to sit out an event estimated to generate $3.4 billion in spending.

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