Seattle retailer Amazon sees Prime day sales boost as online sales jump 8.7%

Amazon.com Inc, the world’s leading online retailer headquartered in Seattle, Washington, announced on Prime Day in the US earlier this week, despite a mounting riot over supply chain restrictions and a reduced discount related to a. robust online sales growth has seen robust growth in domestic demand.

In fact, the Seattle-based tech tycoon’s online sales at all US retailers rose 8.7 percent year over year to $ 5.6 billion, according to data from Adobe’s Digital Economy Index.

Additionally, Amazon.com Inc., which has benefited from big discounts on its Prime Day sales for the past few years, had seen a different market landscape this year, with retailers reducing the amount of discounts to address pandemic restrictions in major economies, including the United States and the EU, had adjusted to domestic demand.

Record Amazon Prime Day Sales

That said, according to data from Adobe’s Digital Economy Index, leading US retailers had seen online sales grow up to 28 percent, while Wall Street analysts had forecast this year’s Prime Day sales to be between 9.5 and 12 Billions of US dollars, which would in fact be record sales on Prime Day for the American multinational technology company.

At the same time, Amazon had cut prices on its own products significantly in the tough competition from Target Corp and Walmart Inc., as Amazon’s third-generation Echo Dot speakers dropped by up to 50 percent in the US and the UK and a whopping 60 percent in major European economies which sends a strong signal that competition has intensified.

Referring to hundreds of thousands of promotions on the second day of the two-day sales event, Amazon.com Inc. said in a statement: “Prime members save a lot and take advantage of the largest selection of offers that we have ever had on Prime Day. ”