Jul 11, 2019

Prime Day has grown bigger than just Amazon

Photo: Dinendra Haria/SOPA Images/LightRocket/Getty Images

Four years ago, Amazon held its first Prime Day, offering steep discounts and deals on its site. Since then, not only has Prime Day ballooned to a two-day affair, it has also gotten much bigger than Amazon.

Why it matters: Per new research from Adobe Analytics, Amazon's competitors will see revenue jump by 79% on Monday and Tuesday, this year's Prime Days. That's the strongest-ever projected bump.

The big picture: The halo effect of Prime Day highlights Amazon's influence on the entire retail market. What started as an Amazon invention has become a Black Friday for July, with Walmart and Target adding their own summer deal days.

  • Prime Day has also become a moment for Amazon employees to stage protests. Last year, warehouse workers in Europe rallied against low wages. This year, Minnesota workers are planning a walkout.

Worth noting: The buying sprees that occur during these big sales are accompanied by a subsequent binge of returns, Adobe Analytics notes. Last year, Prime Day purchases saw 30% higher rates of return than goods bought on other days.

Go deeper ... An e-commerce pitfall: never-ending returns

Go deeper

Amazon shares slide as it misses earnings expectations

Photo: Denis Charlet/AFP/Getty Images

Amazon's shares were down 1–2% after hours Thursday after the e-commerce giant reported $5.22 in earnings per share, missing Wall Street's projected $5.57. Amazon did, however, beat revenue expectations for the second quarter, reporting $63.4 billion, compared to the projected $62.5 billion, per CNBC. AWS revenue was $8.38 billion, falling short of the expected $8.5 billion.

The backdrop: This quarter's earnings report comes as Amazon is facing regulatory scrutiny in the U.S. and Europe. The company recently had its most successful Prime Day to date, and has invested more than $800 million to speed up 2-day delivery to 1-day.

Go deeperArrowJul 25, 2019

Podcast: Amazon faces strike challenge amid Prime Day success

Amazon is expected to generate nearly $6 billion in sales from its Prime Day promotion, but also is facing worker strikes and protests over everything from wages to bathroom breaks to the company's relationship with ICE. Dan and Axios' Erica Pandey break it down.

Go deeper: The Prime days of our lives

Keep ReadingArrowJul 16, 2019

European Union opens antitrust probe of Amazon

Amazon CEO Jeff Bezos. Photo: SAUL LOEB/AFP/Getty Images

The EU said Wednesday it would investigate how Amazon creates products, like AmazonBasics batteries or Solimo brand razors, that compete with offerings from outside merchants on its site.

Why it matters: It's a major new wave of scrutiny for the retail giant at a time when it is also under fire in the U.S.

Go deeperArrowJul 17, 2019