Amazon Prime Day, a Win-Win for All Retailers?
Amazon, the tech giant, is the largest Internet-based retailer in the world by total sales and market capitalization. They have over 80 million subscribers who receive exclusive perks such as limited product access, free shipping, and discounts on many product categories such as electronics, home and heath care, groceries, etc. Subscribers are also able to participate in Amazon’s annual Prime Day (2017 was the third installment of this event). On Prime Day, prices are slashed on many high-demand products like Amazon Echo and Amazon Kindle as well as thousands of other products. These are deals consumers typically do not have access to throughout the year. This year’s Prime Day was a big success for online retail giant, Amazon. The 30-hour event grew more than 60% (globally) compared to last year. Sales rose over 50% in the U.S. alone. This was a global record for the company. Sales surpassed their Black Friday and Cyber Monday. Although this year’s holiday lasted 30 hours vs. 24 hours, other factors contributed to the record event that include additional participating countries (13 this year, up from 10) and an increased number of Amazon Prime subscribers (80M in the US alone…up from 58M end of Q1 2016). This was the company’s third Prime Day. Some of the most sold items included their own electronic devices such as the Echo and the Kindle.
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