Amazon Prime Day sales surpass $11bn beating records

Amazon Prime Day sales matched analysts expectations by beating last year’s Cyber Monday figures, seeing sales of over $11 billion according to Adobe Analytics.

According to Adobe, Amazon’s two-day sales bonanza generated 6.1 per cent more sales for the ecommerce behemoth than the event last year, which saw sales of $10.4 billion in overall US digital revenue.

The total beat last year’s Cyber Monday sales holiday, which was until a few days ago, the most successful digital sales day on record, which recorded sales of $10.9 billion.

The first instalment of Prime Day saw the bulk of online retail sales, with figures amounting to $5.6 billion, the second day watched sales drop slightly to $5.4 billion.

“There’s a pent-up demand for online shopping as consumers look forward to a return to normalcy,” Adobe director of digital insights Taylor Schreiner said to CNBC.

“The halo effect of Prime Day also played a significant role, giving both large and small online retailers significant revenue lifts.”

READ MORE: Amazon is destroying millions of unsold items every year

Popular retailers Walmart and Target were amongst a selection of companies trying to cash in on the Prime Day frenzy by offering competitive sales deals themselves.

Research from Adobe shows that retailers that bring in over $1 billion in revenue every year saw a 29 per cent increase in ecommerce sales during Prime Day compared with an average June day.

Retailers that generate less than $10 million annually saw a 21 per cent rise in sales.

Amazon invests heavily in the success of partners that use its platform to sell and offered small businesses sellers promotion deals such as spend $10, get $10 which was funded by the platform itself in the lead up to Prime Day.

Data shows that consumers spent over $1.9 billion on more than 70 million small businesses products during this promotion period, which was over a 100 per cent increase year-on-year compared to last year’s event.

Tens of millions of shoppers also watched Prime Day product demonstrations and try-on hauls broadcast directly from creators, a growing trend in ecommerce.

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