CrunchMoney

Prime Day has ended and has generated the highest single-day sales in Amazon's history as it sold over 100 million products. However, the event was also beneficial to many of the company's competitors, boosting their sales due to the many discounts they concurrently offered to seize the action. One of these competitors was Walmart, which held many deals in an effort to steal some profits from Amazon. Walmart has notoriously been Amazon's largest online competitor, but by a huge margin. Though initiating its online business roughly at the same time as Amazon, the company has never been able to make more revenue or surpass Amazon's growth primarily due to its inferior business model compared to Amazon Prime. The membership fees that Amazon attains is massive and is mostly responsible for the company's revenue. However, the company also gains a considerable amount of money from Amazon Web Services, which offers cloud-computing platforms to individuals and businesse...

Prime Day has become notorious for being referred to as the "Black Friday of summer" due to its vast quantity of deals and discounts on numerous consumer products. An event beginning in 2015 as a celebration of Amazon's 20th anniversary, this tradition has continued each year and has generated considerable revenue for Amazon and much attention in the public. But to what extent is Amazon Prime Day valuable for the company? Last year, Prime Day achieved a new record for the company as its sales surpassed that of 2016 Black Friday and Cyber Monday, temporarily becoming the largest e-commerce day until eventually surpassed by 2017 Black Friday. Sales grew by 60% from the previous year, revealing its increasing popularity and interest. Just recently, it was reported that Amazon will control 49% of the e-commerce market by the end of this year, up from 43% from the previous year, which only hints at the massive growth in sales that Prime Day will achieve. Clearly, Prime D...

Amazon's Prime Day has been heavily advertised for weeks. Amazon Prime Day just began today at 3 PM Eastern Time. With deals on hundreds of thousands of items, today was by no doubt the biggest sales day of Amazon's year. Amazon had a multimillion dollar advertising budget for Prime Day, and was aggressively publicizing the event in the weeks leading up to it. Yet on the most important day of the year, Amazon's website is down, and searching for items results in a 404 error that says "Something went wrong on our end." Amazon's stock dropped half a percent on Wall Street trading when news of this story hit. This is especially ironic since Amazon is the owner of Amazon Web Services, famous for being able to adapt to increasing traffic and for its pay for what you use business model. In the midst of the the "cloud wars" between Amazon, Google, Microsoft, and IBM, this definitely does not look good for AWS, which has been steadily losing market s...

As the world rapidly evolves, people's lives alter to become more technological and advanced. Most lifestyles, mediums, and actions have transformed to online, such as social media used for news as opposed to newspapers, and Google for research or learning as opposed to books. One of the most revolutionary transitions to online that characterized the 21st century and its evolution from the 20th century revolves around commerce. Describing the activity between buyer and the seller, commerce has remained an effective trade system for many centuries as it has allowed the seller to get the product or service he or she wants while the buyer can achieve a profit, fulfilling his or her own ambitions and desires. In the late 1900s, commerce slowly became more accessible as its online concept was introduced, in which buyers can buy the product directly from websites, instead of going to the store. The company that contributed most to this change was Amazon, which began as a bookstore s...