Amazon Adds Six Hours to Prime Day, Poised to Pass $3.4 Billion Globally
Six hours may not seem like a lot of time, but conservative predictions for Amazon's 36 hour Prime Day note that the e-commerce giant could reach $3.4 billion globally, a 40% increase over last year.
The report comes from RetailDive who spoke with think tank Foresight Research who points to things like the Echo and private labels in furniture, home, grocery, and apparel making a huge splash for Amazon. Their private labels include Rivent, Stone & Beam, Presto!, and, of course, Amazon Basics - all of which are predicted to have exclusive discounts that range from 20% to 30%.
Many of these brands came to fruition hoping to increase holiday spending, but of the 41 private labels already accounted for, seven more have already been flagged by Morgan Stanely. However, analytics firm Jumpshot accounts AmazonBasics for 88% of its private label conversions. Without that, Amazon is only 7% of conversions market share. "Amazon doesn't have private labels cracked," the report noted.