Amazon’s 3rd annual Prime Day for its Amazon Prime users saw sales grow by more than 60% from 2016 across 13 countries. U.S. orders were also up more than 50%.

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Amazon stated that sales also surpassed Amazon’s 2016 Black Friday and Cyber Monday sales with more Prime members joining during the 30-hour sale than ever before. As of June 2017, the number of Prime members had reached 85 million globally.

Created in 2015 to celebrate Amazon’s 20th anniversary, Prime Day not only generates sales in the seasonally weak retail month of July but is an opportunity for Amazon to showcase some its own products such as the Echo, its Fire tablets and its Kindle readers. It also generates new subscriptions to its Prime platform, which costs US$99 per year in the U.S. and includes access to unlimited free delivery and services such as Amazon Video and Music.

Most importantly, unlike Friday and Cyber Monday which are industry wide events, Prime Day is an ‘Amazon only’ day and is analogous to what Alibaba has created with its own Single’s Day. It demonstrates the strength and industry clout of these 2 e-commerce giants where they can basically monopolise a day.

Interestingly, eBay piggy-backed off Prime Day this week with a promotion it called “Did You Check eBay?” which allowed it to generate its two highest days ever for July in terms of gross merchandise value.

 

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About Kevin Hua

Kevin Hua is a Co-Founder of AtlasTrend, an online investment platform that makes it easy for anyone to learn and invest in trends transforming our world. Kevin has over 19 years experience in financial markets including as Senior Portfolio Manager at Atrium Investment Management and Stark Investments.

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