Amazon Announces Prime Day 2020 Results

Amazon Announces Prime Day 2020 Results

A worker loads customer orders on a pending tractor trailer inside a million square foot Amazon distribution warehouse that opened last fall in Paul River, Massachusetts on March 23, 2017.

John Tlumacki | Boston Globe | Getty images

During this year’s Prime Day shopping event, Amazon earned more than $3.5 billion in third-party sellers on the market, an increase of nearly 60% over last year and set the record for the small businesses that make up the market.

That company, Total Prime Day Sales Undisclosed, Said that Prime Day sales from third-party sellers grew far more than Amazon’s retail business.

Launched in 2015, Prime Day has grown into one of the company’s most important retail and marketing events. It acquires new Prime subscribers and allows Amazon to further promote its products and services.

This year’s Prime Day was unusual for the coronavirus pandemic. Forced Amazon to push back A tent event from mid-July to October. Timing means the holiday shopping season will start earlier than ever. Other major retailers Followed Amazon’s lead We started a discount promotion this month.

Amazon’s range of Echo, Ring, Eero, and private label products are typically heavily discounted during Prime Day. Amazon said the smaller and cheaper voice recognition smart speaker, the Echo Dot, is the most popular product of the year. Prime Day has been held in 20 countries this year.

However, the event had a lot of participation from more than 2.3 million small businesses that make up Amazon’s online marketplace. In 2019, third-party sellers Over $2 billion in sales During Prime Day. Best-selling categories for third-party sellers this year include bedding, wireless accessories, nutrition and wellness, arts and crafts, and healthcare, Amazon said.

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Third-party sellers are becoming more and more important on Amazon. 58% Of the company’s total sales. At this rate, Amazon generated at least $7 billion in sales during Prime Day this year. Previously, JPMorgan predicted it could generate $7.5 billion in revenue from this year’s event. eMarketer Target sales close to 10 billion dollars.

The mega sale is expected to help the company report a record fourth quarter. According to analysts surveyed by FactSet, along with year-end sales spikes, Amazon is expected to exceed $100 billion in quarterly sales for the first time in Q4.

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