Amazon's Prime Day sales may have exceeded $4 billion
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Shoppers spent an estimated $4.2 billion during this week's Amazon Prime Day sale, Bloomberg reports.
Why it matters: Amazon keeps breaking Prime Day records from previous years. While the tech giant has not released any revenue details from the 36-hour sale, Wedbush Securities analyst Michael Pachter calculated the figure based on the information from its press release.
By the numbers:
- The estimate indicates that small and mid-sized independent businesses that partner with Amazon sold more than $1 billion worth of goods in the first 24 hours.
- Overall, the sale resulted in more than 100 million shipped products.
- If accurate, the $4.2 billion sales estimate would significantly top the "rather [conservative]" preview prediction of $3.4 billion from Coresight Research.
- Prime Day spread the love. Sales at large retailers — with $1 billion or more in annual revenue — increased 54% compared to an average Tuesday, per an Adobe Analytics analysis via Retail Dive.