For years, Amazon’s annual Prime Day shopping extravaganza has pulled in sales during the lull of summer shopping. While Amazon doesn’t disclose its Prime Day revenue, some analysts estimated it was more than $7 billion in 2019. While Prime Day has become a promotional tool for Amazon, the sales period is influential in the retail industry and funnels many customers into Amazon’s Prime membership. Amazon, which has more than 150 million Prime members world-wide, has added roughly 50 million members since 2018. The company first rolled out Prime Day in 2015 to juice up sales during the typically slow summer period.

Source: Wall Street Journal September 28, 2020 05:03 UTC