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SMB Sales Soar by 60% on Amazon Prime Day, Sold $3.5 Billion Worth of Goods

SMB Sales Soar by 60% on Amazon Prime Day, Sold $3.5 Billion Worth of Goods "Model: @Austindistel\nhttps:\/\/www.instagram.com\/austindistel\/\n\nPhotographer: @breeandstephen\nhttps:\/\/www.instagram.com\/breeandstephen\/\n\nThis photo is free for public use. If you do use this photo, Please credit in caption or metadata with link to \"www.distel.com\"."

According to the research data analyzed and published by ComprarAcciones.com, Amazon Prime Day sales 2020 amounted to $10.4 billion. Compared to 2019 when sales totaled $7.16 billion, there was a 45% increase.

Based on a report from Edison Trends, Amazon had a market share of 91.6% of online spending during the first 30 hours of the event. Walmart had a 3.4% share while Best Buy had 3.0%.

eCommerce Sales to Rise by 32.4% to $794 Billion in 2020

The eCommerce giant is estimated to have sold over 260 million items. That was a 47% increase from 2019’s unit sales of 175 million. Amazon Prime members saved $1.4 billion. small and medium-sized businesses (SMBs) had a field day, selling goods worth more than $3.5 billion. Compared to 2019, they posted a 60% increase in sales and accounted for a third of all sales during the event.

According to FactSet, Prime Day’s sales plus the holiday rush sales could push Amazon’s Q4 2020 revenue to top $100 billion for the first time. But Amazon is not the only beneficiary as other large US retailers saw online sales in the US rise by 76% on Day 1 of the event.

Moreover, eMarketer predicts a 35% year-over-year (YoY) increase in overall US eCommerce sales to $190 billion in November and December 2020. That would more than double the 17% increase posted during a similar period in 2019.

Lastly, according to eMarketer, the total US eCommerce sales in 2020 will reach $794.5 billion, up by 32.4% YoY. In contrast, brick-and-mortar retail sales will decline by 3.2% to $4.7 trillion. However, due to the strong eCommerce growth, retail sales overall will remain flat. The top 10 eCommerce retailers in the US will account for 63.2% of all online sales in 2020, up from 57.9% in 2019.

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