News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Prime Day Results Eclipse Holidays for Amazon

Prime Day Results Eclipse Holidays for Amazon

Last week, Amazon flexed its e-commerce muscle as its annual Prime Day generated revenue that surpassed even its record 2016 holiday peaks of Black Friday and Cyber Monday. In what it is touting as the biggest day in its history, the Seattle-based mega-retailer raked in more than $1 billion in sales, according to several independent estimates. The company itself did not release revenue figures, but did acknowledge that Prime Day “grew by more than 60 percent over last year.” Transactions were up more than 50 percent during the 30-hour period compared to the same time a year ago.

Mobile made an impact this year as the number of orders that came through the Amazon app was more than double last year’s total. And, just yesterday, Amazon revealed that small online businesses selling through Amazon’s marketplace doubled their output from 20 million items last year to 40 million this year.

“Small businesses and entrepreneurs offered deals on everything from apparel to toys, electronics, household goods, and handmade items, with many experiencing their largest sales day ever,” said Peter Faricy, vice president of Amazon Marketplace. “Prime Day sales not only help small businesses and entrepreneurs selling on Amazon increase profits during a historically slow time of year, but Prime Day also helps small businesses prepare for the upcoming holiday season.”

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