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Amazon's Prime Day substantial growth

  • News
  • July 13, 2017
  • Courtney Devereux
Amazon's Prime Day substantial growth

Amazon’s third annual Prime Day was in full swing this week, with the world’s largest shopping retailer raking in over USD$1 billion in sales.

The self-created public shopping day promised more sales than the popular Black Friday.

So, what is Amazon Prime Day?

Here in New Zealand, unfortunately, we do not get to bask in the savings the site offers on Prime Day. Amazon Prime Day is an all-day, online-deals event that debuted on July 15, 2015, to celebrate Amazon's 20th birthday.

Amazon described it as a "global shopping event, offering more deals than Black Friday, exclusively for Prime members."

The purpose of Prime Day is simple — to promote Amazon's Prime subscription service. Many consumers will use this day to test the service for free, and many of those customers will remain, Prime members, once their trial membership is done.

Studies have shown that Prime customers spend more than twice what nonmembers do, so it's no wonder Amazon is trying to spread the Prime love as much as it can.

This year, Prime Day grew by 60 percent from the following year. Amazon offered shoppers 30 hours to shop rather than 24 like the previous year.

According to Amazon’s official press release, more new members joined Prime on July 11 than on any single day in Amazon history. Tens of millions of Prime members made a purchase on Prime Day 2017, more than 50 percent higher than the prior year.

Amazon’s own brand Echo smart home assistant system was the top-selling item for Prime Day. Prime members purchased seven times more Amazon Echo devices globally than on Prime Day 2016.

The Amazon Echo Dot is a small 360-degree speaker that uses far-field voice recognition powered by the Amazon Alexa voice service/assistant.

The Echo Dot allows you to play music, ask questions such as weather, time and news, as well as buy items through the device. The device’s third party skill’s such as Uber, Domino’s Pizza and Capital One allow users to purchase items through voice commands alone.

Prime Day is also a welcome increase in income to smaller retailers who stock items through the platform. July is usually a quiet selling time for retailers, the addition of Prime Day means those involved have the chance to move the stock in usually slow times.

Greg Greeley, vice president of Amazon Prime, says the company is very thankful for their members, especially on the day of sale.

“Our teams around the world will keep working to add more and more to your membership, so Prime continues to make your life better every day. We are already looking forward to our Prime Day celebration next year.”

Although electronics were one of the most sought after items, more than 200,000 dresses were sold along with 200,000 light bulbs.

The most popular item bought in the US was a pressure cooker – the second year in a row.

In Mexico, smartphone charger cords were the top selling items, while across the Pacific in Japan, shoppers loaded up on protein powder.

In China, the most popular item was a plush seahorse toy - more than 3.5 million toys were purchased by customers worldwide on Prime Day 2017.

Amazon's stock jumped $11 higher at one point Wednesday following the highly anticipated Prime Day announcement, breaking the $1,000 mark once again.

With an Amazon-Whole Foods deal in the works, more online shoppers were seen browsing Amazon.com for supermarket staples and everyday essentials, which notably haven't been best-sellers for the internet giant in past Prime Days.

Amazon Prime day is an indicator as to how further ahead Amazon is in the retail game. The global phenomenon that is Prime Day creates a surge in what is usually a quiet time for retailers during July.

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