Amazon’s Prime Day has become more than just a one-day flash sale ― it has become a full-fledged consumer holiday. In just its third year in existence Amazon’s mid-summer sales blitz has become a cultural phenomenon ― evidenced by the scores of media coverage and the millions of customers that flocked to the site to check out the deep discounts and make a purchase.
The event continues to grow in both popularity and success. Long before the curtain was raised on the 30-hour event on Monday July 10 at 6 pm it was easy to predict that Prime Day 2017 would once again set a single-day sales record for Amazon: and it did.
In a post-event statement, Amazon confirmed that sales on July 11 beat both Black Friday and Cyber Monday, making it the biggest single sales day in Amazon history. “The Prime Day 2017 event grew by more than 60% compared to the same 30 hours last year, and sales growth by small businesses and entrepreneurs was even higher,” the company issued press release said. “More new members joined Prime on July 11 than on any single day in Amazon history. Tens of millions of Prime members made a purchase on Prime Day 2017, more than 50% higher than the prior year.”
While the full sales figures have not been reported, below are a few Prime Day tidbits released by both Amazon and independent third parties, as well as some related commentary from industry insiders.
A record number of Prime members shopped across 13 countries, and members saved hundreds of millions of dollars on product discounts globally.
“Price can also be a strong driver of customer loyalty, and Amazon is smart to provide an added incentive in offering major deals and discounts to its Prime members on Prime Day. What’s more, offering exclusive deals and early access to promotions plays into what the modern consumer wants from their status as a loyalty program member: priority, personalized offers and early access to benefits.”
“Prime Day is a promotional event, and every retailer can, and does, run promotions. The difference with Amazon is that Prime membership is all about locking customers into their fulfillment experience. So many other retailers…