Amazon Prime Day sets sales records with USD 6.4 billion in one day

Economy

Published: 2023-07-16 15:04

Last Updated: 2024-04-17 05:14


Amazon Prime Day sets sales records with USD 6.4 billion in one day
Amazon Prime Day sets sales records with USD 6.4 billion in one day

The first day of Prime Day, July 11, marked the most sales ever made by Amazon in a single day — with customers spending USD 6.4 billion. Customers spent USD 12.7 billion across the two-day promotion in the US alone, setting a new Prime Day record.

Over two days, customers purchased 375 million items and saved an estimated USD 2.5 billion, according to an Amazon press release. The event helped Amazon shares increase to their highest levels in 10 months.

Prime Day kicked off in 2015 and includes discounts on items from all departments, with electronics the most steeply discounted.

Best Buy, Kohl’s, Target, Walmart and other retailers held promotions on the same day to compete with Amazon’s Prime Day.

By the afternoon of the first day of Prime Day, Amazon shares rose above USD 130. Total sales this year are projected to increase by 6.1 percent, according to Reuters.

There were more deals on products produced by small businesses than any previous year, according to Amazon. Caraway, True Classic and TUSHY increased their daily sales by over 18 times during the first day.

Despite fears of a recession, customer spending has remained strong. Retail sales in May rose 0.3 percent, though wages have not risen at the same rate.

During Prime Day, the National Labor Relations Board filed a complaint against Amazon for refusing to compromise with warehouse workers. In the United Kingdom, hundreds of warehouse workers went on strike during Prime Day in protest of low wages.