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Amazon (AMZN) Delivers Robust Prime Day 2021 Performance
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Amazon (AMZN - Free Report) experienced strong momentum among the Prime members during its recent Prime Day event, which took place on Jun 21-22. The shopping rate was higher this time compared with any previous Prime Day events
Notably, Prime members bought above 250 million products during this two-day mega shopping event, thanks to great deals and huge discounts on several items.
The company raked in robust sales in product categories such as home, electronics, beauty, nutrition, apparel, tools, household products and fashion. Also, the company witnessed strong sales in the back-to-school supplies such as backpacks, laptops, headphones, notebooks, Crayola products and calculators.
Additionally, the company experienced solid demand for its Fire devices, including Fire HD 10 tablet, Fire HD 8 tablet, Fire HD 8 Kids tablet, Fire TV Stick 4K with Alexa Voice Remote, and Fire TVs.
Apart from this, there were more sign-ups for Amazon Music Unlimited during the event, which can be attributed to Amazon Music promotions.
We believe that strong Prime Day sales on the back of solid customer momentum as well as sellers, especially the third-party sellers, will likely contribute well to Amazon’s top-line grow th in the second-quarter 2021.
Moreover, this Prime Day turned out to be the biggest-ever event for small and medium businesses (SMBs).
Notably, customers purchased above 70 million items from SMBs, spending more than $1.9 billion, which grew more than100% on a year-over-year basis. Amazon-funded Spend $10 and Get $10 promotion were the key drivers behind this.
Further, this bodes well for Amazon’s strengthening investments to support SMBs.
We believe that the strong sales generated by the SMBs from Prime Day 2021 will help them to bounce back from the year-long coronavirus-induced disruptions.
This, in turn, will drive Amazon’s momentum across the SMBs further, which form an integral part of its e-commerce business.
Prime: A Key Catalyst
Notably, the Prime Day celebration brings in profits for the company by benefiting shoppers as well as third-party sellers to a great extent.
Amazon Prime remains a key catalyst for the company’s top-line growth,backed by customer-friendly offers and cashback benefits.
Further, strengthening delivery and shipment services, expanding music and video content, and robust loyalty system are constantly expanding the company’s Prime subscriber base.
All the benefits aid the company in delivering better shopping experiences to its Prime members.
We believe that Amazon is well-poised to sustain its dominant position in the booming e-commerce space on the back of its solid momentum across the Prime program, which is continuously strengthening its competitive prowess against other online as well as traditional retailers like eBay (EBAY - Free Report) , Walmart (WMT - Free Report) , Alibaba (BABA - Free Report) , Target, Kroger and MercadoLibre.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
Amazon (AMZN) Delivers Robust Prime Day 2021 Performance
Amazon (AMZN - Free Report) experienced strong momentum among the Prime members during its recent Prime Day event, which took place on Jun 21-22. The shopping rate was higher this time compared with any previous Prime Day events
Notably, Prime members bought above 250 million products during this two-day mega shopping event, thanks to great deals and huge discounts on several items.
The company raked in robust sales in product categories such as home, electronics, beauty, nutrition, apparel, tools, household products and fashion. Also, the company witnessed strong sales in the back-to-school supplies such as backpacks, laptops, headphones, notebooks, Crayola products and calculators.
Additionally, the company experienced solid demand for its Fire devices, including Fire HD 10 tablet, Fire HD 8 tablet, Fire HD 8 Kids tablet, Fire TV Stick 4K with Alexa Voice Remote, and Fire TVs.
Apart from this, there were more sign-ups for Amazon Music Unlimited during the event, which can be attributed to Amazon Music promotions.
We believe that strong Prime Day sales on the back of solid customer momentum as well as sellers, especially the third-party sellers, will likely contribute well to Amazon’s top-line grow th in the second-quarter 2021.
Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. revenue-ttm | Amazon.com, Inc. Quote
Momentum Across SMBs
Moreover, this Prime Day turned out to be the biggest-ever event for small and medium businesses (SMBs).
Notably, customers purchased above 70 million items from SMBs, spending more than $1.9 billion, which grew more than100% on a year-over-year basis. Amazon-funded Spend $10 and Get $10 promotion were the key drivers behind this.
Further, this bodes well for Amazon’s strengthening investments to support SMBs.
We believe that the strong sales generated by the SMBs from Prime Day 2021 will help them to bounce back from the year-long coronavirus-induced disruptions.
This, in turn, will drive Amazon’s momentum across the SMBs further, which form an integral part of its e-commerce business.
Prime: A Key Catalyst
Notably, the Prime Day celebration brings in profits for the company by benefiting shoppers as well as third-party sellers to a great extent.
Amazon Prime remains a key catalyst for the company’s top-line growth,backed by customer-friendly offers and cashback benefits.
Further, strengthening delivery and shipment services, expanding music and video content, and robust loyalty system are constantly expanding the company’s Prime subscriber base.
All the benefits aid the company in delivering better shopping experiences to its Prime members.
We believe that Amazon is well-poised to sustain its dominant position in the booming e-commerce space on the back of its solid momentum across the Prime program, which is continuously strengthening its competitive prowess against other online as well as traditional retailers like eBay (EBAY - Free Report) , Walmart (WMT - Free Report) , Alibaba (BABA - Free Report) , Target, Kroger and MercadoLibre.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>