Despite a small technical glitch, Amazon Prime Day, where Amazon highlights products offered by small businesses, ended in success. According to Small Business Trends, small and mid sized businesses “were able to generate more than $1 billion in sales on the first day.” The event ran for 36 hours and in some instances increased sales 10x to 100x for the day.
Amazon Prime Day was a concept created in 2015 to help stir sales in an otherwise low month for Amazon sales, and resulted in the revenue increase for small business. In 2015, Prime Day “generated $900 million in sales.” This was “followed by $1.52 billion in 2016 and $2.14 billion in 2017.”
The event keys in on Amazon Prime members which has increased to over 100 million globally. According to estimates, 2018’s Prime Day is “slated to generate $3.4 billion in global sales,” which is an increase of 40%over last year.