- Prime Day is a deal event organised by Amazon on an annual basis, exclusively for Prime members (i.e. you need a Prime membership to avail of the offers).
- Amazon Prime Day 2020 took place between 6th of August through the 7th of August in India.
- It was the first time in history that Amazon decided to split the promotional event between the regions – we are still waiting for a date regarding Prime Day in Europe and the US.
Amazon has announced that Prime Day 2020 has been the biggest two-day deals event for 91,000 Small and Medium Businesses (SMBs) in India. A record number of businesses participated in the event. This has made some hundreds of business owners millionaire, or crorepati ( “Someone whose net worth is greater than one crore (ten million) rupees or other local currency” as defined here) as a result of a successful Prime Day.
While Amazon has not disclosed a sales figure (as per the usual), it has announced that there was a record of over 1 million subscribers to the Prime membership (which also explains the above success for SMBs).
As Prime Day 2019 has been the “largest shopping event in Amazon history” (as declared by Amazon in last year’s press release), India might see an improvement in the market so much affected by the pandemic. The [some struggling] Small and Medium Businesses that participated, have seen a bump in sales which will keep them floating [and even prosper] for a little longer. For how long?! That will depend on the way the COVID situation is managed (not only by the governments, but also by each one of us).
You might find useful this guide for businesses during COVID.
To conclude, Amazon saving the economy in India is a far-fetched title for an article. None-the-less, Prime Day has had a positive impact for a record number of Small and Medium Businesses, and it will hopefully do the same for the other struggling regions in Europe and the US.