Amazon Just Had It Biggest Sales Ever

The online retailer said Wednesday that the self-created holiday was its biggest sales day ever, with worldwide orders rising more than 60 percent compared with the previous Prime Day. In the U.S., orders rose by more than 50 percent.

The company declined to share how many people signed up for Prime to participate in the sale. To qualify for the sales event, which was created last year to celebrate Amazon's 20th birthday, shoppers need to be members of the service.

Amazon shares were roughly flat, near $747, in late morning trading Wednesday.

The retailer's shares ended the prior day slightly lower following concerns over a midday sales update from ChannelAdvisor. The e-commerce software company, which helps power the online operations of roughly 3,000 retailers, said Prime Day sales for its customers selling on Amazon were flat with the prior year's event.

But Piper Jaffray analyst Gene Munster cautioned investors about overreacting to that data point, as ChannelAdvisor's numbers represent just a sample of Amazon's sellers, he said. He added that the figures only capture same-store sales trends; and given that the number of vendors participating in Prime Day was more than double the prior year, they did not capture the complete picture.

Meanwhile, Amazon spread out its deals further into the day, including more than 800 of its limited-time "Lightning Deals" launching well into the evening. The retailer said Prime members saved more than double the amount they did last Prime Day — and it is already working to amp them up for next year's event.

"After yesterday's results, we'll definitely be doing this again," Greg Greeley, vice president of Amazon Prime, said in a press release announcing the results.

On its inaugural Prime Day, Amazon sold more units than it did on the previous Black Friday, which at the time was its largest sales day ever. The company did not provide an explicit sales forecast for this year's event, but said it anticipated the "record-breaking" day it received.

Amazon sold more than 90,000 TVs and more than two million toys on Prime Day, the company said. Ordering on its mobile app also accelerated compared with the prior year, increasing more than two times among Prime members.

Source: CNBC

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