It’s quite a feat to take a made up shopping “holiday” from zero to $11 billion in six years.
But that’s exactly what Amazon just accomplished this week in a two-day, online shopping frenzy that generated more revenues than 2020’s record-breaking Black Friday ($9 billion) or Cyber Monday ($10.8 billion.)
Amazon Prime Day launched in 2015 to celebrate the company’s 20th anniversary and currently offers insider deals to its 200 million Prime subscribers who pay $119 a year for memberships that include one-day shipping, access to streaming content on Prime Video, discounts at Amazon-owned Whole Foods grocery stores and other perks.
Widespread home isolation under COVID-19 restrictions helped drive 50 million new Prime subscribers since last January to the company Jeff Bezos launched from his Seattle garage in 1994. And while not all of the $11 billion in online shopping revenue flowed to Amazon (and the company is famously reticent when it comes to releasing its own revenue numbers) analysts with Adobe Digital Economy Index team reported the $5.6 billion spent on Monday, along with the $5.4 billion on Tuesday, pushed the 2021 Prime Day growth for all retailers more than 6% over last year’s $10.4 billion haul.
Within this year’s Prime Day sales volumes, some Amazon competitors saw big jumps over last year, with Adobe reporting large retailers (over $1 billion in annual online sales) up 29% over 2020 and small retailers (less than $10 million in annual…