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 10 Facts about Amazon Prime Day 💻

10 Facts about Amazon Prime Day 💻

Amazon Prime Day, now nearing national holiday status for some holidays, is actually TWO days this year. That’s right, Amazon Prime Day runs October 13 and 14 in 2020, which follows a banner year for Amazon and online retailers.

Of course, as your financial planner, my advice to people is to stop shopping online so much, put that money into savings or investments instead, and lose their Amazon password!

But, in reality, most of us log on to our favorite shopping website from time to time, and that definitely includes Amazon. 

So, whether you’ll browse or buy on Oct 13-14, here are a few facts about Amazon Prime Day(s) as of 2020:

1.     The Amazon shopping app has been downloaded by more than 150.6 million users. That’s almost half of the entire U.S.!

2.     There are also now 150 million Amazon prime users in the country.

3.     89% of online buyers prefer to shop through Amazon instead of other ecommerce platforms based on trust.

4.     Amazon’s revenues are off the charts these days. In fact, they brought in $75.5 billion in profits…in the first quarter of 2020 alone!

5.     Electronics is the most popular category on the Amazon super site, with 44% of Amazon users buying at some point.

6.     But Amazon isn’t just one entity, of course, but an umbrella organization or platform for individual sellers to operate. In fact, there are more than 2.5 million sellers active on Amazon, and small or medium-sized businesses sell 4,000 items per minute!

7.     Amazon was founded by Jeff Bezos out of his Seattle garage in 1994. Fast forward to 2020, and he’s the richest person in the world, with a net worth of $175.3 billion. Since the Covid-19 pandemic and lockdowns in 2020, Bezos’ net worth has skyrocketed about $40 billion or more.

8.     Amazon Prime day has grown in popularity year-by-year, becoming a highly anticipated shopping day. In fact, Amazon Prime sold 175 million items just during Amazon Prime Day in 2019!

9.     By itself, Amazon would be one of the top-50 richest countries in the world!

10.  Amazon Prime Day sees more sales than Black Friday and Cyber Monday combined!

Now that you know a little bit more about Amazon, I encourage you to shop very wisely and judiciously during Prime Day(s) this week. Or, even better, don’t shop at all and use that money to add to your savings, pay off debt, or invest!

-Jason Matthews

Financial Guru

Feel free to email me at Matthewsfinancial@gmail.com if you have questions or need help!