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    Tuesday, July 17, 2018

    Amazon Recovers From Prime Day Stumble With Soaring Sales

    Amazon's Sales Soar 45 Percent in First 5 Hours of Prime Day.
    The e-commerce giant admitted its website experienced heavy traffic just as Prime Day began, shortly after 3 p.m. ET (noon PT), rendering it unavailable for some users. The good news for businesses is that the technical issues did not seem to deter shoppers from buying their products.

    Early data from Feedvisor, a pricing software tool, show that customers have spent roughly 45 percent more in the first five hours of Prime Day than they did last year. The data also shows that orders have increased about 22 percent in the first five hours compared to last year. Feedvisor's estimates are based on its own customer database, which it claims is a "strong representative sample for analyzing sales trends."

    The numbers speak to Amazon's e-commerce and marketing prowess. Last year, Prime Day was the company's biggest sales day after Cyber Monday 2017. Analysts expect this year's sales bonanza to rack up $3.4 billion, according to Bloomberg. Amazon refused to disclose actual sales numbers, but confirmed it is seeing record growth.
    The website appears to be back to normal now, with several more hours left in the shopping event.
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