The first day of Prime Day event this year, on July 11, was the biggest sales day in Amazon’s history, setting a new milestone for the e-commerce giant and significantly benefiting small and medium-sized businesses.
Over the two-day shopping extravaganza, Prime members worldwide purchased more than 375 million items, saving over $2.5 billion from millions of deals throughout Amazon’s stores. The historic event resulted in the biggest Prime Day ever, Amazon reported.
“The first day of Prime Day was the largest sales day in Amazon’s history, and Prime members saved more this year than any other Prime Day event,” remarked Doug Herrington, CEO of Amazon Stores. “Prime is an incredible value, and we’re proud to offer additional value for members through exclusive deals events like Prime Day.”
Besides customers, the primary beneficiaries of this year’s Prime Day event were small and medium-sized businesses and independent sellers on Amazon. Among the top-selling categories were Home, Fashion, and Beauty, with best-selling deals including Fire TV Stick, LANEIGE Lip Glowy Balm, Apple AirPods, and Bissell Little Green Portable Deep Cleaner.
Amazon’s vast array of offerings is primarily attributable to its independent sellers, mostly small and medium-sized businesses. This year, Amazon offered more Prime Day deals on small business products than ever, resulting in record-breaking sales for small businesses. According to Amazon, companies such as Caraway, True Classic, and TUSHY saw their average daily sales in Amazon’s stores skyrocket by over 18 times during the first day of Prime Day 2023, compared to the daily average in the lead-up to the event.
In addition to shopping within Amazon, Prime members capitalized on Prime Day deals beyond the Amazon store via a new feature called Buy with Prime. This initiative allows U.S.-based Prime members to shop directly from participating brands’ websites while still enjoying the perks of their Prime membership.
The result? Small, medium, and large merchants who participated in Prime Day activities collectively experienced a ten-fold increase in daily Buy with Prime orders and an eight-fold surge in daily revenue from those orders during the Prime Day event period compared to the month before the announcement of Prime Day.
Small Business Deals
The record-breaking success of Prime Day 2023 is a positive sign for small and medium-sized businesses looking to leverage Amazon’s platform. Amid challenging economic times and increasing digitization, such e-commerce events present remarkable opportunities for these businesses to boost sales and reach a global customer base.
Amazon’s Prime Day event is not just a massive sales day; it has become a significant platform for small businesses to thrive and achieve unprecedented growth rates, further fueling the economy’s digital transformation.