Loosen your purse strings: Amazon's Prime Day sale expected to make US $6.1 bn this year

E-commerce giant Amazon holds its eponymous Prime Day sale in July each year.

Agencies
Despite being a 24-hour event, the quantum of sales on the platform amounted to USD 30.8 billion last year, by far in excess of Amazon's modest sales on Prime Day.
Holidays are synonymous with giving. Bread is broken. Gifts are exchanged. People partake in the festive cheer by spending time with friends and family. Retailers are happy, and so are manufacturers. But the trouble with holidays is that they are few and far between. So how do businesses spur consumer spending even when there is no apparent occasion to splurge? By inventing new holidays, and tempting people to loosen their purse strings through extensive marketing and heavy discounting.

Online marketplaces like Amazon and Alibaba have been executing this tactic to great success. Singles Day, Black Friday, and Cyber Monday have been around for a while now, making the case for their inclusion to the official holiday calendar. According to Statista, Amazon, which holds its eponymous Prime Day sale in July each year, is expected to sell about USD 6.1 billion worth of goods this year. However, rivals like eBay and Walmart also organize their own sales to coincide with Prime Day. Here's how Amazon's festival of consumerism compares with that of peers.

Annualsales1
According to Statista, Amazon, which holds its eponymous Prime Day sale in July each year, is expected to sell about USD 6.1 billion worth of goods this year.



The 48-hour shopping window started out as a single-day affair in 2015. Global sale doubled after the hours of the sale was extended to 30 hours in 2017. Amazon does not provide data to records of transaction volume, but data compiled by Statista and Digital Commerce 360 reckon that this year's iteration will rake in USD 6.1 billion globally, an increase of 577 per cent. The sale is available to Prime members, serving as an incentive to sign for the package, which comes bundled with access to the company's video and audio streaming services, as well as swifter delivery.

AnnualSales2
The timing of Amazon's Prime Day also coincides with the end of summer.


Retailers have also warmed to the idea of Prime Day, despite the preponderance of heavy discounts, which could eat into their margins. According to internal data from independent market analyst RetailMeNot, a record 250 retailers listed wares on Amazon for Prime Day this year. This constitutes a 29 per cent increase over last year. The timing of Amazon's Prime Day also coincides with the end of summer.
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AnnualSales3
Black Friday and Cyber Monday, which are tailored around the Thanksgiving holiday in the U.S. also saw significant consumer spending in 2018.


Back-to-school shopping constitutes a sizeable chunk of sales, especially in the U.S. The discounts offered by Amazon have caused many brick-and-mortar retailers to mark down prices, especially in margin-sensitive product categories. However, the halo effect created by such big-ticket shopping festivals has helped boost spending on other platforms as well. Adobe has estimated a 79 per cent revenue bump for other retailers during Prime Day.

Recent data from China suggests that the country's economy is in a slowdown, but sales data from Alibaba's Singles Day suggests otherwise. Despite being a 24-hour event, the quantum of sales on the platform amounted to USD 30.8 billion last year, by far in excess of Amazon's modest sales on Prime Day.

Black Friday and Cyber Monday, which are tailored around the Thanksgiving holiday in the U.S. also saw significant consumer spending in 2018. However, despite being eclipsed by Alibaba, Amazon's overall revenue from the two-day event might be higher than estimates suggest. The Seattle-based company also acquires paid members to its Prime service, drawing more people to its ecosystem.
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Amazon Wants To Take Over With Redesigned Echo, Smart Clocks, Microwave
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Amazon caused a few gasps at its Alexa event Thursday when it revealed it had 70 things to announce.

The new products give Amazon a greater reach than ever before.

Updates to the internet giant's Alexa-infused Echo smart speakers will allow them to tend to microwave cooking and even have "hunches" regarding what users may want or have forgotten.

Alexa is even developing a personality, complete with a favorite pet or beer.

Here's a round up all of the Alexa-infused products Amazon showcased, including speakers, an in-car device and, a microwave:

Amazon caused a few gasps at its Alexa event Thursday when it revealed it had 70 things to announce. The new products give Amazon a greater reach than ever before. Updates to the internet giant's Ale..
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The revamped Echo Dot has a new look, with rounded edges, and packs more punch, with a 1.6-inch driver delivering 70-per cent-louder audio than the previous model.

The speaker has lower distortion and enhanced bass. It can connect to other speakers and other apps and devices over Bluetooth.

The revamped Echo Dot has a new look, with rounded edges, and packs more punch, with a 1.6-inch driver delivering 70-per cent-louder audio than the previous model. The speaker has lower distortion an..
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If you're craving more low-end tones from your Echo setup, you might consider the Echo Sub.

It delivers down-firing, 100W of bass through its 6-inch woofer, and you can pair it with an Echo or two to create a 2.1 stereo system.

If you're craving more low-end tones from your Echo setup, you might consider the Echo Sub. It delivers down-firing, 100W of bass through its 6-inch woofer, and you can pair it with an Echo or two to..
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Amazon updated its Echo Plus, which includes a smart hub for a range of connected devices.

This time around, it has revamped speakers and a feature called local voice control, which lets you adjust your various smart-home devices even if your internet connection is down.

There's a temperature sensor too, so Echo Plus can tell smart thermostats to turn up the heat when it gets a little chilly.

Amazon updated its Echo Plus, which includes a smart hub for a range of connected devices. This time around, it has revamped speakers and a feature called local voice control, which lets you adjust y..
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Not to be outdone by Chromecast Audio, Amazon has its own audio dongle called Echo Input, including Bluetooth, a microphone and a 3.5mm jack.

It doesn't have a speaker, so you'll need to connect it to your existing audio setup.

Not to be outdone by Chromecast Audio, Amazon has its own audio dongle called Echo Input, including Bluetooth, a microphone and a 3.5mm jack. It doesn't have a speaker, so you'll need to connect it t..
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New arrivals to the Echo lineup this year, Echo Link Amp and Echo Link, are for those who are more particular than most about audio quality.

The former includes a 60W two-channel amplifier with digital and analog connectors. Echo Link, meanwhile, connects to your audio setup to stream high-fidelity music.

New arrivals to the Echo lineup this year, Echo Link Amp and Echo Link, are for those who are more particular than most about audio quality. The former includes a 60W two-channel amplifier with digit..
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Amazon's smart display received an overhaul, as the company beefed up Echo Show with a 10-inch display alongside more powerful speakers and mics.

It has web browsers (Firefox and Amazon's Silk) this time around, along with Skype video chat support and Vevo music videos.

Amazon's smart display received an overhaul, as the company beefed up Echo Show with a 10-inch display alongside more powerful speakers and mics. It has web browsers (Firefox and Amazon's Silk) this ..
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Amazon is dipping into the DVR game this year with Fire TV Recast.

It works with over-the-air networks using an antenna and will send live TV or recorded shows to Fire tablets, Fire TV, Echo Show or mobile devices. And, of course, you can use Alexa to control it.

Amazon is dipping into the DVR game this year with Fire TV Recast. It works with over-the-air networks using an antenna and will send live TV or recorded shows to Fire tablets, Fire TV, Echo Show or ..
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It probably shouldn't come as a surprise that Amazon wants to put Alexa in your car, even if you don't have a fancy dashboard infotainment system.

Enter Echo Auto. It's a dongle that connects to your audio system and uses a phone's cell connection (because you need internet access for Alexa to work).

Along with the conversational assistance you'd expect with Alexa, you can use Echo Auto for directions.

It probably shouldn't come as a surprise that Amazon wants to put Alexa in your car, even if you don't have a fancy dashboard infotainment system.Enter Echo Auto. It's a dongle that connects to your ..
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Amazon has found a way to connect Alexa to pretty much any wall-powered device using its Smart Plugs.

Once you've linked them to an Echo or the Alexa app, you can turn devices on and off, or set timers.

Amazon has found a way to connect Alexa to pretty much any wall-powered device using its Smart Plugs. Once you've linked them to an Echo or the Alexa app, you can turn devices on and off, or set time..
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