Online Sales Topped $11B During Amazon Prime Day Event

Total online sales during the June 21-22 Prime Day event were more than 2020’s Cyber Monday event held the day after Thanksgiving, Adobe said, per CNBC. Cyber Monday was 24 hours versus Prime Day’s 48 hours.

Online retail sales during the first Prime Day sale on June 21 totaled $5.6 billion; the following day saw a total of $5.4 billion, making the event the biggest two days for online sales in 2021.

Last year’s 48-hour Prime Day brought in $10.4 billion in overall U.S. digital revenue, according to Adobe data, per CNBC.

“There’s a pent-up demand for online shopping as consumers look forward to a return to normalcy,” said Taylor Schreiner, director of Adobe Digital insights, per CNBC. “The halo effect of Prime Day also played a significant role, giving both large and small online retailers significant revenue lifts.”

Big retailers — those with $1 billion in annual revenue — have reported an increase in sales of 29 percent during Prime Day in comparison to a typical day in June. Small merchants — those with less than $10 million in annual revenue — reported a 21 percent increase in sales on Prime Day, CNBC reported, citing Adobe’s research.

Additional findings showed that toys were discounted an average of 12 percent and appliances, 5 percent, per the report.

Amazon said Prime Day 2021 recorded the biggest sales in the event’s history for third-party sellers, outpacing its own sales, CNN reported.

“Amazon’s Prime Day was aimed to boost new Prime member signups and enhance its relationship with existing members to grow the ecosystem, a mission we believe Amazon accomplished,” Joseph Feldman, a retail analyst at Telsey Advisory Group, said in a research note to CNN.

Amazon also said that shoppers in 20 countries bought over 250 million items. Some 45 percent of overall sales on Prime Day were under $20.

Source: PYMTS