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Amazon Prime Day Breaks Records

Jul 13, 2017 7:32 AM   By Rapaport News
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Amazon’s Prime Day sales surpassed Black Friday and Cyber Monday as the online retailer reported 60% growth from last year.

During the 30-hour shopping festival, the e-commerce group offered deals for members of Amazon Prime, its paid subscription service that offers free two-day shipping and other benefits. This year’s Prime Day took place on Tuesday and saw a record number of new members for a single day.

The discount event shows Amazon’s power to draw in customers during a period that is usually quiet for retail by creating a fixture on the shopping calendar, according to retail consultant Jan Kniffen of J. Rogers Kniffen.

“All these third-party players, some of whom weren’t really playing when [Amazon] started Prime Day, have just gotten more and more business coming through it,” Kniffen said in a video interview with CNBC. “It’s going to become this enormous event, and it’s in the middle of July – for retailing, it’s hilarious and scary.”

Sales growth for small businesses and entrepreneurs using Amazon was higher than the overall 60% increase, the company said Wednesday. The total number of Prime members who made a purchase came to “tens of millions,” a rise of more than 50%, it added.

Subscribers’ most popular purchase was the Amazon Echo Dot, a smart wireless speaker that can connect to a virtual personal assistant.
Tags: Amazon, Amazon Prime, Amazon Prime Day, black friday, cyber monday, Echo Dot, J. Rogers Kniffen, Jan K, Prime Day, Rapaport News
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