Amazon's Prime Day Generates Estimated $1 Billion in Sales
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Amazon said its third annual Prime Day sales event was the biggest day yet for the e-commerce giant, with revenue surpassing its take for traditional retailing blowouts like Black Friday and Cyber Monday.
The 30-hour sale, featuring discounts on a broad assortment of goods, generated about $1 billion in revenue for the Seattle-based web retailer, according to separate estimates from analysts at Cowen & Co. and JPMorgan Chase & Co.. That’s triple its average daily e-commerce revenue in 2016, according to data compiled by Bloomberg.
The most popular purchase during the sale was Amazon’s Echo Dot mini-speaker, which was discounted by 30%. Having extended the shopping spree by six hours, it grew by more than 60% compared with the same period a year earlier, the company said Wednesday in a statement. The promotion also saw an influx of new Prime members, Amazon said.
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