Retail

Did Amazon Prime Day Sales Top $10 Billion?

Amazon.com Inc. (NASDAQ: AMZN) posted another strong Prime Day (really two days), with some analysts estimating that the mega-sale broke $10 billion. Another record-setting Prime Day event for this e-commerce juggernaut is done, and Amazon isn’t the only one winning big from it.

This Prime Day would mark Amazon’s sixth attempt at the sale, which has grown tremendously year over year. According to Digital Commerce 360, initial analysis of Amazon’s Prime Day puts sales for the two-day period at roughly $10.40 billion, an increase of 45.2% from last year’s event, which had total sales of $7.16 billion.

Apart from Amazon, the marketplace sellers posted a big win this year, moving a record $3.5 billion worth of goods in this time. Note that sales of these market place sellers’ products grew nearly 60%, which outpaced the sales of Amazon’s own products.

In fact, Amazon’s marketplace sales as a share of total Prime Day sales have been on the decline, according to Digital Commerce 360. The firm estimates that marketplace sellers’ sales only account for about a third of Prime Day sales.

However, this year the firm is projecting that marketplace sales will grow to about 35% of total sales on Prime Day, an increase from 32% in 2019.

Looking back at Prime Days in years past, 2015 was the first year that Amazon offered this sale, and it only grossed $0.9 billion. In 2016, sales jumped to $1.52 billion. Then 2017 and 2018 had sales of $2.41 billion and $4.19 billion, respectively.

Excluding Friday’s move, Amazon.com stock had outperformed the broad markets with a gain of about 81% year to date. In the past 52 weeks, the share price was closer to 88% higher.

Amazon.com stock traded up about 1% at $3,368.64 on Friday, in a 52-week range of $1,626.03 to $3,552.25. The consensus price target is $3,724.98.