Amazon has become a savior of third-party sellers. This year according to Amazon, Third-party sellers have earned more than $3.5 billion during the Prime Day Sale. Amazon witnessed a hike of 60% compared to last year, good news for Amazon, good news for sellers.
While Amazon did not disclose total earnings from the Prime Day Sale, they surely announced that third-party sellers grew even bigger than Amazon’s retail business this year.
Prime Day Event was introduced by the retail giant back in 2015 and it has grown to be a very significant event for Amazon’s retail business and promotional offers. Prime day has proven to attract Prime members to the platform and promote products and offers from the retail king.
This year has changed everything and the COVID-19 pandemic has majorly impacted many businesses. Retail business is no different and due to this reason, Amazon had to shift the Prime Day event from the middle of July to October. Other retail competitors followed Amazon’s lead and began their promotional offers in September end and October.
Amazon Prime Day Sale was held in 20 countries this year and amongst products like Amazon Echo, Eero, Ring etc. Amazon claimed that the best-selling device of this year’s Prime Day sale was the smallest Alexa enabled and voice-activated smart- speaker Echo Dot.
Out of the total Amazon’s online retail marketplace, about 58% is constituted by third-party sellers. This year, over 2.5 million third-party sellers participated in the event as it provides a great platform for them to showcase their products. Top-selling third-party sellers in this year’s Prime Day Sale event were bedding, nutrition and wellness, arts and crafts, wireless accessories, health care etc.
Having a company’s total merchandise sold to third-party sellers, Amazon is estimated to have earned a profit of at least $7.2 billion in sales.
October is the month of festivals in India and Amazon’s decision to hold Prime Day event and Great Indian Festival Sale in the same quarter will definitely turn out to be profitable for the company. Amazon in total is estimated to make quarterly revenue of $100 billion for the first time.
Amazon Update- Amazon Great Indian Festival Sale is now live for Prime members and will begin tomorrow for the public. Grab great deals on all products and smartphones. Apple iPhone 11 is available at a discounted price of Rs. 47,990 exclusively. Check out more offers on Amazon.in.