Amazon Prime Day: Consumers Win, Investors Really Win
The day after Thanksgiving is often referred to as "Black Friday" in the US, based on the inaccurate notion that retail stores operate unprofitably all year, finally turning a profit due to the massive influx of cash from holiday shopping. Along with Cyber Monday, many believe these are among the biggest retail shopping days of the year.
That may have been true in the past, but e-commerce leader Amazon (NASDAQ: AMZN) has changed the landscape yet again. Amazon Prime Day 2017 is in the bag, and the company released some key takeaways from the event. Despite being reserved exclusively for Prime members, it was the single biggest shopping day in the company's history. Even more startling is the fact that the event had higher total sales than 2016's Black Friday and Cyber Monday ... combined.
As consumers ordered more than 6,000 items per minute, Amazon investors are proving to be the biggest winners. Behind the hoopla lies a strategy that will pay dividends down the line and make the gargantuan company even more formidable.
Source: Fool.com
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