Prime Day 🛍
Prime Day was first launched in 2015. For Amazon, this initiative has become one of the most important retail and marketing events of the year as it acquires new Prime subscribers and allows Amazon to promote its products and services.
This year’s Prime Day was held in 20 countries and had initially been pushed back because of the coronavirus pandemic. Still, third-party sellers were able to cash in more than $3.5 billion from the event.
These numbers represent a 60% increase from last year’s sales. Amazon said the top-selling categories included bedding, wireless accessories, nutrition and wellness, arts and crafts, as well as health care.
Third-party sellers account for 58% of the company’s total merchandise. With that in mind, Amazon must have brought in around $7 billion in sales in this year’s event. \
This could help the company report a record fourth quarter, even during this pandemic. According to analysts surveyed by FactSet, this could be the first time that Amazon exceeds $100 billion in quarterly revenue in the fourth quarter.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.