Amazon's Prime Day is off to a red hot start, despite glitches
21 July, 2018, 15:55 | Author: Arnold Gilbert
Shares of Amazon, which have surged more than 57 percent this year, closed down slightly Wednesday, at $1,842.92, indicating that Wall Street had factored in a robust Prime Day performance into how it values the company.
Shoppers also revealed what ultimately drives them to buy elsewhere for the purchases made off the site: 46 percent said they could find cheaper pricing off Amazon, 25 percent cited more convenient shipping options, 25 percent said other retailers had more attractive loyalty programs, and 24 percent credited a desire for in-store experiences.
While Amazon doesn't disclose sales figures for Prime Day, Deborah Weinswig, CEO of Coresight Research, had estimates it will generate $3.4 billion in sales worldwide, up from an estimated $2.4 billion a year ago.
In the years since Prime Day was established in 2013 to celebrate the company's 20th anniversary, competitors to Amazon have also begun coinciding promotions.
Sales in USA have exceeded sales from previous year for same timeframe despite a glitch on the website that periodically kept shoppers from making purchases.
After a rocky start, Amazon ended its fourth Prime Day on a high note. However, Amazon isn't the only retailer looking to cash in on the shopping frenzy.
The Amazon Prime Day page is being constantly updated with new deals throughout the sale. Rufus played an integral part of the team, such that in 1998 and 1999, employees held up the canine and used his paw to click the mouse, officially launching some of the earliest Amazon.com pages online.
By downloading the Amazon app, you can get a preview of the Prime Day bargains. Target and eBay were among them, with both touting the fact that no membership, unlike Amazon's sale, is required.
When can shoppers enjoy the Prime Day 2018 sale? Narrativ, a media technology company that works with publishers and brands, found that 63% of shoppers it surveyed actively compare prices at other retailers when shopping on Amazon.
The glitches had some Amazon Prime customers threatening to quit the premium service. As the number of Prime subscribers continues to grow, so to does that size and scale of Amazon's Prime Day sale.
The result came despite widespread site glitches Monday that frustrated Prime members trying to take advantage of deals during the manufactured shopping holiday.
The Australian SumOfUs spokesperson said: "Amazon exploits and underpays its warehouse workers and same-day delivery workers all over the world - but with your help, we have an opportunity to usurp the messaging on Prime Day to focus on the human cost to all these discounts".
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