Amazon Says Third Party Sellers Made More than $3.5 Billion from Prime Day

$3,500,000,000.
Amazon said third-party sellers on its marketplace earned more than $3.5 billion during this year’s Prime Day shopping event, an increase of nearly 60% compared to last year and a record for small and medium-sized businesses that make up the marketplace.

The company, which did not disclose total Prime Day sales, said the Prime Day sales of third-party vendors increased even more than the Amazon retail business. The event sees strong participation from more than 2.3 million small and medium-sized enterprises that make up Amazon’s online marketplace. Third-party sellers saw more than $2 billion in sales during Prime Day in 2019.

Third-party sellers are increasingly important to Amazon, accounting for about 58% of the company’s total merchandise sold. Amazon is expected to have generated at least $7 billion in sales on this year’s Prime Day. Previously, JPMorgan’s forecast for this year’s event could bring revenue of $7.5 billion, while eMarketer ‘s target sales was close to $10 billion.

The mega-sale is expected to help the company report the fourth-quarter record. In combination with the rush of holiday sales, Amazon is expected to exceed $100 billion in quarterly revenues for the first time ever in the fourth quarter, according to analysts surveyed by FactSet.

Originally published at https://www.technologyelevation.com.