Here’s Amazon’s Best Shopping Day

Despite the market criticisms and gloomy expectations before the prime day event, Amazon managed to have the largest sales day, erasing the sales during the Cyber Monday and Black Friday. On Wednesday, the e-commerce juggernaut reported 60 percent climb of orders globally and a remarkable 50 percent rally of orders in the United States alone.

Amazon declined to reveal the exact figures it earned during the event. Prior to the day itself, experts predicted it to be around $1 billion, taking into consideration the previous earnings of the company from its huge sales events and as the participation of the third party sellers was projected to increase. Also, Amazon offered around 100,000 deals and was available for almost ten countries.

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The said event was the second attempt of Amazon to accumulate huge profit. Prime Day was exclusively available to Amazon Prime’s members. The rate for the membership starts at $10.99 monthly and goes for $99 annually. Amazon Prime offers two-day free shipping, unlimited deliveries with no minimum order size, from 20 million eligible items. As written on their website, Prime members also get FREE Same-Day Delivery on over a million items when shipping to selected metro areas across the US.

Among the highlight of the second Prime day was the high demand for the Amazon devices. Kindle e-readers, Fire tablets, Fire Tv and the Alexa-enabled devices were considered to be the best sellers. The Global Fire Tv orders soared more than twice compared to the Prime Day in 2015 while the Fire TV Stick turned out to be the best selling device all in all.

Fire Tv Stick offers 4,000 channels, apps, and games including access to over 250,000 TV episodes and movies on Netflix, Amazon Video, HBO NOW, Hulu, and a lot more. Meanwhile, the youth sector purchased Headphones and the iRobot Roomba. Amazon reported 200,000 pairs of headphones and more than 23,000 iRobot Roomba sold together with the 4,000 Lenovo laptops.

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Further, Amazon sold around 90,000 TVs, 2 million toys and more than 1 million pairs of shoes. The orders for the global mobile doubled compared with the Prime Day last year. Overall, the prime members saved more than twice in this year’s Prime Day.

Speaking after the Prime Day, Amazon Prime VP Greg Greeley confirmed that they are planning to do it again. Mr. Greeley expressed his gratitude to the tens of millions of members around the world who made the biggest day in the history of the Amazon.

On the other hand, the company received negative feedbacks from Twitter. Shoppers reported the different cases wherein they found it difficult to avail the discounts and some received an “add to cart” fail notifications when they check out.

Recently, the shares of Amazon dropped 0.75 percent to $742.63 with a current market capitalization of $347.80 billion. The stock struggled to remain steady after the success of the prime day. Amazon still plays a tight competition against Walmart, Best Buy, e-bay and other e-commerce service providers. Despite the success of Prime Day, Walmart remained optimistic and reported that millions of customers have been saving all month long on Walmart.com.

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Author: exocapitalfinancepro

As the dissemination of online financial news gets easier through the evolution of different media platforms, Exo Capital Finance Pro brings the most comprehensive up-to-date financial information right in front of your eyes. In line with the mission of Exo Capital Market, this news blog aims to provide the financial ideas needed by the clients through the market news and analysis delivered regularly. Exo Capital Mission Grounded on financial stability and service efficiency, Exo Capital Markets Ltd. hopes to stimulate and drive innovation in the world by catering the needs of its clients. Committed to guiding its clients to achieve their maximum potentials, the company seeks to lead and bring growth into the market through the high quality services it provides. Exo Capital Vision Exo Capital Markets Ltd. strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry. The company wants to create an avenue of knowledgeable and competent traders by assuring accountability and honesty in delivering the services we provide for the community.

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