Home Markets Prime Day – They Shopped ‘Till They Dropped

Prime Day – They Shopped ‘Till They Dropped

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The worldwide extravaganza floated competitors’ boats too

From dildos to DNA kits, iPhones to Instant Pots, lunch boxes to Lifestraws, and everything in between, global consumers embraced Amazon’s annual Prime Day extravaganza with gusto.

In all, Prime members worldwide purchased more than 100 million products – a new Prime Day record.

As with last year, Amazon’s self-proclaimed holiday resulted in a record for new customers joining Prime, the $119 annual membership that includes free two-day shipping.

Final totals aren’t in yet, but the massive sales suggest Amazon could smash another record by exceeding last year’s historic $1 billion in domestic sales. Globally, analysts forecast sales could be at least $3.6 billion. That would be a 40-percent jump from 2017.

As expected, Prime Day was a boon for Amazon’s own heavily promoted products with some of its best-sellers being the Fire TV Stick, Echo Show and Echo Spot.

Other popular purchases in the United States were Instant Pots, personal water filters and the 23andMe DNA test. Laundry detergent, smartphones, pans, light bulbs, and video games and consoles were big sellers internationally.

The day was also a boon for Amazon employee’s dogs.

The company botched its Prime day kickoff with a technical glitch. Until it was repaired Amazon populated its error pages with pictures of some of its employees’ pups.

While those canine error pages aren’t new, the massive Prime Day audience made these dogs temporarily famous, with frustrated shoppers posting images of the dogs on social media.

On the ancillary market, retailers, including Walmart, eBay and Macy’s, took advantage of the attention to Prime Day, and Amazon’s problems, by offering competing sales.

Amazon’s competitors also pointed out that unlike Prime Day’s deals, their offers didn’t require a $119-per-year membership fee.

Target on Wednesday said it saw its highest daily traffic and sales day of 2018 thanks to its rival sale.

Adobe Analytics found that Prime Day created a halo effect, but only for larger retailers. It reported that large retailers – ones with $1 billion in annual revenues – experienced a 54-percent jump in sales versus an average Tuesday. However, small sellers – those with less than $5 million in annual revenues – saw an 18-percent drop in online sales.

In Prime Day’s wake, Amazon shares breached a record high topping a market capitalization of $900 billion. Though the high caused a small sell-off, AMZN’s high-flying stock is up about 80 percent from a year ago.