As Amazon.com Inc.’s Prime Day approaches, people are getting excited to know what this deal has to offer. This event which is to be held on two days of summer on June 21-22 focuses on its marketplace sellers-which the company refers to as small businesses. Like the last two years, Prime Day deals will run for 48 hours. The sales event will be held in 20 countries this year, not including Canada and India, where events are postponed due to COVID-19.
This event offers various deals on a variety of products on Amazon.com, which began as a celebration of Amazon’s 20th year in business. It eventually turned into a summer holiday event intended to hike additional business for the platform and also the retailer’s marketplace sellers. In recent years, other large retailers have offered promotions on their own websites around Prime Day to take advantage of the additional online shoppers.
This event usually takes place in the month of October. However, it was scheduled before time and this year, in the year 2021, Amazon Prime Day is taking place in June itself all because of the corona-virus pandemic, which has shifted and changed consumer’s shopping patterns, impacted retailers’ supply chains, and inventory, and led more shoppers to Amazon.com to purchase essential items.
Prime Day also is also a way for Amazon to sign up more consumers for its Prime membership, a $119 per year or $12.99 a month loyalty program that offers such perks as free one- or two-day shipping, digital photo storage, and video streaming. Prime Day deals are only available to Prime members, which now total 200 million worldwide, CEO Jeff Bezos said in his annual letter to shareholders in April. That’s up from 150 million global Prime members in January 2020 and 100 million in April 2018.
For the second year in a row, Amazon seems to be focusing more on its marketplace sellers—which it refers to as small businesses—than in previous years. For instance, it will once again have “curated small-business collections” during Prime Day on Amazon.com/SupportSmall where consumers can browse marketplace sellers’ products by category, business location, and collections such as Black-owned, woman-owned, and military family-owned businesses.
Additionally, Prime members will receive $10 to shop on any products during Prime Day when they spend at least $10 on items sold by marketplace sellers starting June 7 till June 20. Over 300,000 sellers are eligible for the “Spend $10, Get $10 promotion,” more than twice as many as last year, the company says. This promotion is funded by Amazon.
Nevertheless, Prime Day still lags behind larger shopping events such as the Cyber 5 holiday (the five-day shopping period beginning Thanksgiving Day) or Chinese e-commerce giant Alibaba’s Singles’ Day event held in November each year. But when these sales events are broken down by day, Prime Day is considered to be a little better. If simply put, this 48 hours even of Amazon Prime Day generated revenue of around $5.20 billion in 2020. That would mean Prime Day sales were ahead of online sales generated on Thanksgiving Day, and the Saturday and Sunday after Thanksgiving Day 2020.