How Much Did Amazon Make on Prime Day 2019?
Prime Day is quickly becoming one of the most anticipated sales days of the year. It’s almost kin to Black Friday, but it’s in the middle of the year instead of the end. And out of every other sales event Amazon has, the 2019 Prime Day was the biggest in the company’s history. There are at least two reports from experts who estimate that Amazon sold as much a $6 billion worth of goods over the extended Prime Day sale.
Of course, everyone loves a great deal. While Amazon sold more than $6 billion worth of goods, is also estimated that purchasers also saved about $1 billion by jumping right into these amazing deals. Amazon itself has said that this year’s Prime Day was “the largest shopping event in Amazon history.” They made it so by expanding the day an additional 12 hours, extending well into the July 15th and 16th.
Amazon says that they’ve sold over 175 million items over those two days. That 75 million more items to be sold last year. Among the top sellers for 2019 include a lot of Amazon-branded products, like the Kindle Fire, Echo Dot, Fire Stick, and many other devices that use their signature Alexa voice-enabled technology. It wasn’t just a boon for Amazon though. Third-party sellers who took part in Prime Day topped $2 billion in sales, up from $1.5 billion last year.
It’s important to note that Amazon does not list or disclose any final sales numbers. Rather, these numbers are based upon metrics and compiled by Wall Street analysts who give their best estimate based upon sales. Most of these estimates found that Amazon had topped all expectations they had for the event. Prime Day fans certainly took advantage of all the amazing deals. They bought everything from pressure cookers to TVs and mattresses.
Amazon’s Overall Numbers
Many analysts expected that Amazon would probably make close to $6 billion during Prime Day. This is about $2 billion higher than the sales last year, which is a lot of money in a good indication of how well the economy is doing. Were still many months away from Christmas, but it being July had no impact on stopping anyone from pulling out their credit card.
“Even before final sales estimates began rolling in, Prime Day 2019 was expected to be the biggest shopping event in Amazon’s history, surpassing Black Friday, Cyber Monday and the previous Prime Day,” CFRA analyst Camilla Yanushevsky wrote in a note last week.
“We believe Prime Day services three primary purposes for Amazon: (1) generating significant volume at a seasonally slow time of the year; (2) driving incremental Prime subscriptions; and (3) providing valuable free advertising,” Loop Capital Markets analyst Anthony Chukumba wrote in a note Monday, prior to the end of Prime Day. “We think Prime Day will also provide an opportunity to highlight Amazon’s recent introduction of free one-day delivery for Prime members.”
Amazon released a statement about the addition of new Prime subscribers who wanted to take advantage of the event: “(we) welcomed more new Prime members on July 15 than on any previous day, and almost as many on July 16 – making these the two biggest days ever for member signups.”
“Overall, we believe Amazon’s Prime Day(s) shopping event achieved key goals of promoting the Prime membership program with fast delivery, as well as increasing penetration of Alexa-enabled voice and other smart home devices,” Baird’s Sebastian wrote in a note Wednesday.