Amazon claims that members purchased 300 million items on Prime Day

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Last Updated on July 14, 2022 by Bitfinsider

Amazon (AMZN) announced the results of its Prime Day 2022 event on Thursday, claiming that Prime members worldwide purchased 300 million items during the two-day sales event.

This is a significant increase from Prime Day 2021, when users purchased 250 million items from the retailer. Amazon did not provide total sales figures for the event.

Customers spent $3 billion on small business items during the company’s Support Small Businesses to Win Big sweepstakes, which ran for three weeks leading up to Prime Day.

As part of the company’s Spend $10, Get $10 promotion in 2021, Prime members spent $1.9 billion on small business items in the two weeks before Prime Day.

“Prime Day is a celebration of our Prime members, who look forward to this event every year, and we’re thrilled to have delivered incredible savings to them once again,” said Doug Herrington, CEO of Amazon Worldwide Stores.

Customers worldwide purchased more than 100,000 items per minute during the event, according to the retailer, with top sellers including beauty brands like Laneige and NuFACE, as well as products like the Apple (AAPL) Watch Series 7 and Levi’s (LEVI) apparel.

Since the peak of the pandemic, when customers flocked to the online retailer for products like toilet paper and cleaning supplies, Amazon’s e-commerce revenues have substantially decreased.

Amazon reported Q1 2022 sales of $116.4 billion, up 7 percent from the same period last year. That was nothing compared to Q1 2021, when the business claimed a 44 percent growth in sales, reaching a peak of $108.5 billion.

The slowdown has severely hurt Amazon’s stock price, which was down 34.9 percent to $108.28 year-to-date at the start of trading on Thursday. This is in addition to a Q1 loss per share of $7.56.


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Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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