Amazon’s Popular Prime Day Sale Begins July 10
Amazon’s third annual “Prime Day” is just around the corner, and will offer new deals to its Prime members every five minutes. The event, which begins on July 10 at 9 p.m. will run until July 12 until 3 a.m. Non-prime members can sign up for a membership before or on July 11 to take advantage of the site’s deals.
Michael Pachter, managing director of Wedbush Securities, said Amazon has not altered its strategy – to garner more people to sign up for its Prime membership.
Amazon began its Prime Day sale in 2015 to celebrate its 20 years in the business. The Prime Day led to a significant rise in Prime subscribers than any day in the website’s history. Amazon didn’t mention how many people signed up for its second Prime Day (2016) event but said there was a 60% increase in sales over 2015.
During the first Prime Day, there were more than 24 million items ordered, breaking all Black Friday records where nearly 400 items per second were ordered. At the time, Amazon Prime Vice President Greg Greeley said the company wasn’t sure if it would continue Prime Day or not. However, after notable success, the company opted to continue the event.
People interested in becoming Prime members can choose from either the yearly or monthly option – $99 a year or $10.99 a month. The membership gives them a free two-day shipping on most items, access to movies and TV shows, access to books, etc. Prime members spend, on average, around $1,200 a year compared to just $500 for non-members.
Although Amazon has yet to reveal much about its Prime membership numbers, John Blackedge, an analyst with Cowen & Co. believes there are about 80 million subscribers around the world.
Amazon is also offering even bigger deals for Prime members who own and use an Amazon device such as the Echo, Echo Show, Echo Dot, Fire tablet, Fire TV and Amazon Tap to order items.
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