Retail

Kroger Highlights Sales Numbers In The Face Of Prime Day

Kroger

While Amazon shipped over 100 million products in Prime Day’s first 24 hours despite technical difficulties, Kroger said that it sells approximately 110 million items on an average day at its stores. The company has nearly 2,800 locations, Bloomberg reported.

“It’s easy to take for granted the scale of a company like Kroger,” the grocer said in a statement. Even so, Kroger takes in $340 million in revenue on an average day. By comparison, Amazon is estimated to have taken in $4.2 billion on Prime Day, per one analyst. Still, Amazon did face outages as customers rushed to the site during the 36-hour shopping event.

The news comes as Amazon flirted with the $900 billion market cap club on Wednesday (July 18) after completing a successful Prime Day shopping event. In a press release, the eCommerce giant said sales for this year’s Prime Day surpassed Cyber Monday, Black Friday and the Prime Day 2017 in terms of sales, making it the biggest shopping event in Amazon’s history. Amazon said that during the 36-hour sales event, Prime members around the globe purchased more than 100 million products, with bestsellers including the Fire TV Stick with Alexa Voice Remote and the Echo Dot.

Prime Day was the biggest event ever for Amazon devices, the company noted in the press release. And this year marked the first time that Prime members could get deals from Whole Foods Market during the event. Amazon said one of the best-selling items was organic strawberries. As for small and medium-sized businesses (SMBs) that sell on Amazon, the company said sales “far exceeded” $1 billion.

The strong showing for Prime Day 2018 lifted Amazon’s stock earlier in the trading session, surpassing the $900 billion market cap for a brief time. Apple and Amazon have been in a race of sorts to see which company will hit the $1 trillion market cap level first. Amazon’s stock closed the Wednesday (July 18) trading session at $1,842.92, down $1.01 or 0.05 percent. It ended the trading day with a market capitalization of $894.2 billion.

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