Did Amazon Prime Day Sales Top $10 Billion?
Amazon.com posted another strong Prime Day, with some analysts estimating that the mega-sale broke $10 billion.
Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) 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.
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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.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
