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Amazon's Sales Figure to Expand With Prime Day Celebration
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Amazon (AMZN - Free Report) is firing on all cylinders with its 36-hours mega summer shopping event called “Prime Day” which commenced on Jul 16.
The event has not only benefited the company but also the sellers and buyers driven by numerous exciting and beneficial deals. The company has showcased more than one billion deals worldwide.
It has given a boost to the traffic on Amazon’s e-commerce platform despite the technical glitch on its site on the opening of the event. Notably, the glitch was resolved within a few hours.
Amazon to Gain From Prime Day
In the first 10 hours of the event, the company reported that sales grew at a bigger and faster rate compared with the Prime Day event in 2017.
Reportedly, in the first 12 hours, the sales figure improved 89% compared with the last year’s comparable figure. Further, the number of orders placed by the customers in the same time frame grew 69% year over year.
Additionally, electronic products are the bestsellers in this shopping event till now. The company has witnessed robust sale of Fire TV Stick with Alexa Voice Remote, Toshiba 50-inch 4K Ultra HD Fire TV Edition, Instant Pot 6 Qt 7-in-1 Multi Use and Echo Dot products.
Further, huge discounts along with Prime savings on luxurious as well as necessary products will attract more customers for Prime subscription. This will further expand the prime member base.
The company’s paid member base exceeded 100 million in the last quarter. Consequently, we believe all these will play a significant role in driving the company’s top-line growth in 2018.
Per the data from Coresight Research, Prime Day 2018 sales are expected to reach $3.4 billion which exceeds Prime Day 2017 sales figure by $1 billion.
Coming to the price performance, shares of Amazon have returned 57.7% on a year-to-date basis, outperforming the industry’s rally of 32.9%.
Socio-Economic Benefits to Aid Growth
The company tried to enhance the shopping experience through customer friendly offers on the eve of Prime Day.
The customers benefited on the back of great discounts and existing benefits of Prime membership. In fact, Amazon offered more than 140 spotlight deals to its U.S. Prime members.
Further, their savings in grocery and fresh food items are expected to be huge, thanks to the debut of Whole Foods Market on Prime Day. Moreover, the shoppers of electronic appliances and home security products, which are often costly in the market, have made significant profits owing to the massive deals on these items.
Additionally, retailers selling their products on the company platform especially the small and medium-sized businesses have gained the most. Their sales figure combined has gone beyond $1 billion. To name a few, there are — One Savvy Life, Stand Steady, Petcube, and Tea Forte and many more.
We believe Amazon’s intentions of serving the interests of both sellers and customers are likely to have socio-economic impact. This will further strengthen its market position.
The above mentioned benefits will aid the company in gaining competitive edge against some of the big players in the retail space like — Walmart (WMT - Free Report) , Best Buy (BBY - Free Report) , and Target (TGT - Free Report) and others.
All these players have already called out for summer sale at their stores and websites in order to counter the competition stemming from Prime Day.
However, Amazon’s easily accessible Prime Day deals might disrupt their sale strategies. Prime members are allowed to shop via Amazon App, Alexa Shopping, AmazonFresh, Whole Foods stores, Prime Now, Treasure Truck, Amazon Books and Amazon Pop-Up as well as Amazon.com in Spanish.
Consequently, Amazon’s extensive retail strategy and vast e-commerce platform will continue to strengthen its market share.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Amazon's Sales Figure to Expand With Prime Day Celebration
Amazon (AMZN - Free Report) is firing on all cylinders with its 36-hours mega summer shopping event called “Prime Day” which commenced on Jul 16.
The event has not only benefited the company but also the sellers and buyers driven by numerous exciting and beneficial deals. The company has showcased more than one billion deals worldwide.
It has given a boost to the traffic on Amazon’s e-commerce platform despite the technical glitch on its site on the opening of the event. Notably, the glitch was resolved within a few hours.
Amazon to Gain From Prime Day
In the first 10 hours of the event, the company reported that sales grew at a bigger and faster rate compared with the Prime Day event in 2017.
Reportedly, in the first 12 hours, the sales figure improved 89% compared with the last year’s comparable figure. Further, the number of orders placed by the customers in the same time frame grew 69% year over year.
Additionally, electronic products are the bestsellers in this shopping event till now. The company has witnessed robust sale of Fire TV Stick with Alexa Voice Remote, Toshiba 50-inch 4K Ultra HD Fire TV Edition, Instant Pot 6 Qt 7-in-1 Multi Use and Echo Dot products.
Further, huge discounts along with Prime savings on luxurious as well as necessary products will attract more customers for Prime subscription. This will further expand the prime member base.
The company’s paid member base exceeded 100 million in the last quarter. Consequently, we believe all these will play a significant role in driving the company’s top-line growth in 2018.
Per the data from Coresight Research, Prime Day 2018 sales are expected to reach $3.4 billion which exceeds Prime Day 2017 sales figure by $1 billion.
Coming to the price performance, shares of Amazon have returned 57.7% on a year-to-date basis, outperforming the industry’s rally of 32.9%.
Socio-Economic Benefits to Aid Growth
The company tried to enhance the shopping experience through customer friendly offers on the eve of Prime Day.
The customers benefited on the back of great discounts and existing benefits of Prime membership. In fact, Amazon offered more than 140 spotlight deals to its U.S. Prime members.
Further, their savings in grocery and fresh food items are expected to be huge, thanks to the debut of Whole Foods Market on Prime Day. Moreover, the shoppers of electronic appliances and home security products, which are often costly in the market, have made significant profits owing to the massive deals on these items.
Additionally, retailers selling their products on the company platform especially the small and medium-sized businesses have gained the most. Their sales figure combined has gone beyond $1 billion. To name a few, there are — One Savvy Life, Stand Steady, Petcube, and Tea Forte and many more.
We believe Amazon’s intentions of serving the interests of both sellers and customers are likely to have socio-economic impact. This will further strengthen its market position.
Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. Revenue (TTM) | Amazon.com, Inc. Quote
Strengthening Competition
The above mentioned benefits will aid the company in gaining competitive edge against some of the big players in the retail space like — Walmart (WMT - Free Report) , Best Buy (BBY - Free Report) , and Target (TGT - Free Report) and others.
All these players have already called out for summer sale at their stores and websites in order to counter the competition stemming from Prime Day.
However, Amazon’s easily accessible Prime Day deals might disrupt their sale strategies. Prime members are allowed to shop via Amazon App, Alexa Shopping, AmazonFresh, Whole Foods stores, Prime Now, Treasure Truck, Amazon Books and Amazon Pop-Up as well as Amazon.com in Spanish.
Consequently, Amazon’s extensive retail strategy and vast e-commerce platform will continue to strengthen its market share.
Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>