Prime Day 2018 sales cross $4 billion

Internet Retailer’s early analysis shows Amazon grew sales more than 66% over the 36-hour holiday, in spite of its technical issues on Monday and thanks to the sale of Amazon’s private-label products, such as Fire Sticks.

Prime Day 2018 is now Amazon.com Inc.’s biggest sales event ever, in spite of technical glitches during the opening hours of its fourth-annual summer sales event.

While Amazon (No. 1 in the Internet Retailer Top 1000 ranking and No. 3 in the Online Marketplaces ranking) didn’t provide specifics on sales or growth, they did say they sold more than 100 million products on Prime Day (July 16-17). Amazon also said marketplace sales “far exceeded” $1 billion. Based on that information and an analysis of Amazon’s top-selling product categories, Internet Retailer’s early estimate pegs sales during the 36-hour event between $4.01 billion and $4.38 billion globally. That would mean sales grew at least 66% year over year, up from an estimated $2.41 billion during last year’s 30-hour sale.

READ FULL ARTICLE by Fareeha Ali | Internet Retailer | Jul 19, 2018