STORY: Amazon touted blowout numbers for this year’s Prime Day sales, but by one critical metric, the company missed the mark.
New sign-ups to the U.S. site failed to meet last year’s total and even the company’s own target, despite Amazon having doubled the number of Prime Days this year from two to four.
That’s according to internal company data reviewed by Reuters.
The world’s largest online retailer registered 5.4 million U.S. sign-ups over the 21-day run-up to Prime Day and during its four-day sales event, which ran from July 8 to July 11.
That was around 116,000 fewer than for the same period a year earlier…
and 106,000 below the company’s own goal, reflecting a roughly 2% decline in both metrics.
The data, which is not publicly available, offers a rare glimpse into Amazon’s vaunted – and closely guarded – Prime business, a paid subscription service offering fast delivery and access to streaming content, among other benefits.
Amazon, for its part, said it had achieved record-breaking sign-ups in the 25 days around Prime Day, without providing specifics.
The company in a statement to Reuters said (quote) “Prime membership continues to show strong growth and customer engagement in the U.S. and internationally.”
Amazon launched Prime in 2005 for $79 per year in the U.S., and has steadily increased subscription fees, most recently to $139 a year in 2022.
The program is a key growth driver, taking in nearly $24 billion in subscription revenue in the first half of this year.
Shares of Amazon on Tuesday were down 3% in midday trading.