Amazon Prime Day Beats Black Friday, Despite Terrible Customer Reviews

Amazon Prime Day Success

When Amazon Prime day was launched, thousands of customers took to social media to share their displeasure with the e-tailers product offerings. It turns out that millions of other shoppers were more than satisfied with the deep discounts being offered by the world’s largest online retailer.

According to the company, customers ordered over 34 million items, including Amazon devices like Kindles and Fire TV sticks.

Among the best selling products were 56,000 Lord of the Rings trilogy sets, 47,000 televisions, and 51,000 Bose headphones.

Amazon also recorded a record number of memberships for its Prime service, the $99 annual membership which includes free 2-day shipping, music and its photo service.

“After yesterday’s results, we’ll definitely be doing this again,” said Greg Greeley, Vice President at Amazon Prime.

The company did not disclose whether Prime Day will impact impact the 3Q which ends in September. Total revenue is expected to grow 16% to $24 billion, according to analysts.

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Amazon shares traded up 2%, to an all-time high of $471 on Thursday. The company has a market cap of $216 billion.

While the company sold a record number of items, it may be the increase in Amazon Prime memberships that most benefit the company. As new Prime customers begin to recognize the benefits of their annual subscription, Amazon may see a nice increase in additional products from those new Prime service members.

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.