Amazon Tops Last Year’s Numbers by a Long Shot, Analysts Report

By Thomas Price Thursday, October 15, 2020

With the closures of in-person shopping and physical storefronts for much of the world, the demand for ecommerce has never been higher. Of the ecommerce world, there is no one bigger than the retail giant, Amazon, who has just concluded their historic annual event, Prime Day. Prime Day is a 48-hour period on the website filled with hundreds of exclusive deals for Amazon Prime members. Amazon Prime is an annual subscription to the company that offers benefits such as free shipping on all purchases, two-day shipping for Prime marked items, and access to Amazon Prime Video, which has a massive library of TV and movies, including Amazon Originals. The annual cost of Amazon Prime is $119. So, how did the company’s Prime Day fare this year, considering the vastly different commerce landscape of 2020?

Amazon website on a cell phone.

Prime Day in 2019

While Amazon does not disclose actual sales figures, Prime Day 2019 was the biggest shopping event in the history of the company at the time. The event took place over 18 different countries for 48 total hours. The raw numbers of total items sold equated to over 175 million different products across the globe. In the 48 hours alone, Amazon is estimated to have generated around $5.3 billion in the United States and possibly up to $7.16 billion globally in revenue during 2019. The highest-selling products were Instant Pots, PlayStations, electric toothbrushes, and Roombas, among others. This is not even including Amazon-specific devices, such as the Echo Dot and Fire TV stick, as this was also the largest day ever for Amazon items like these. While all of this is an impressive feat, estimates of the results from this year’s Prime Day are set to make this the largest ever, by a rather wide margin.

Prime Day 2020

Prime Day 2020 has expanded in nearly every sense of the word. With it being closer to the holidays, this year’s Prime Day could be seen as the beginning of the holiday season, at least for shopping. In fact, of those surveyed, a whopping 54% will be primarily shopping online for holiday gifts this year. In comparison to 2019, where the answer to that same question resulted in only 22%, over double the holiday shoppers will be looking for their gifts online this year. Adding further to this, of verified Amazon Prime subscribers polled, 54% say they will be using Prime Day to buy holiday gifts this year. Compounding these statistics even further is the addition of Prime Day sales from two new additional countries — Turkey and Brazil. Combining these factors with the information already available gives some staggering estimates in revenue from the recently concluded event.

Estimates from analysts track that Prime Day 2020 should see a total increase in revenue up to 43% from Prime Day 2019. This translates to global projected revenue reaching $9.9 billion, a colossal number for a 48-hour period. In the United States alone, projected revenue on the two days sits at $7.5 billion. Of the most popular items sold according to a sample size of verified Prime purchases, the third-generation Echo Dot, gift cards, and the Amazon Smart Plug round out the top. 21% of households spent more than $100 on Prime Day this year. 29% of those surveyed during Prime Day 2020 said they were buying gifts for the holidays, with 61% purchasing items for their household or themselves. Amazon has not released official numbers on the number of items sold or total revenue on those sales during the 48 hours.

Final Conclusions

Prime Day 2020 was a record-setting event on the heels of the record-setting Prime Day 2019. While every year has reached a new level of sales and revenue for Amazon, the rise in ecommerce as a result of the COVID-19 pandemic and the event’s later date have brewed the perfect set of circumstances for a historical day in ecommerce history. With Amazon already having a banner year due to these circumstances, expect their quarterly report and stock prices to reflect these changes as well.

About the Author

Headshot of Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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