Published on: June 24, 2021
Amazon's annual Prime Day results - or at least as much as can be gleaned right now - are in, and CNBC notes that while the online retailer pointed to big increases for the third party suppliers that are part of its Marketplace, the public statements lacked the usual "superlatives it typically offers to show how consumers flocked to the site to snap up heavily marked-down goods."
In its announcement, Amazon said that "customers spent over $1.9 billion on more than 70 million small business products during the promotional period, more than a 100% year-over-year increase on sales compared to the Prime Day October 2020 promotion." Amazon also said third-party Prime Day sales grew more than its first-party retail sales.
However, as CNBC says, "Amazon never discloses total Prime Day sales, but last year it took the rare step of disclosing that third-party sellers brought in $3.5 billion during the event. That figure was also missing from this year’s results."
That said, CNBC also reports that "total online retail sales in the United States during Prime Day were 6.1% higher than transactions generated by the 2020 event, according to Adobe Analytics.
"Online retail sales amounted to $5.6 billion on Monday and $5.4 billion on day two, Adobe said.
"That made Monday the biggest day for digital sales this year and Tuesday the second-busiest, according to Adobe."
Retailers like Walmart, Target, Best Buy, as well as numerous others, all had their own versions of Prime Day, adding to the promotional online frenzy taking place this week.
“There’s a pent-up demand for online shopping as consumers look forward to a return to normalcy,” Taylor Schreiner, director of Adobe Digital insights, tells CNBC. “The halo effect of Prime Day also played a significant role, giving both large and small online retailers significant revenue lifts.”
CNBC writes that "it’s likely that Amazon still hauled in record sales during Prime Day, but growth could be slower compared with previous years."