just keeping itself busy over the slow summer. But this may be an inopportune time for the e-commerce titan to fuel its famous “flywheel.”on Monday, touting more than two million deals available across 20 countries. That seems a significant expansion from last year’s event, which included more than one million deals across 19 countries.
That is about 7% of the $115.3 billion in total revenue Wall Street expects from Amazon in the second quarter. But the boost is unlikely to fully compensate for what will be a very tough comparison to last year, when the frenetic start of the pandemic fueled a 40% jump in Amazon’s second-quarter revenue. Analysts expect Amazon’s revenue to rise 30% year over year in this year’s second quarter.
Beyond the revenue contribution, Prime Day has come to serve as a showcase for the so-called flywheel effect of Amazon’s various businesses. Based on the company’s past pronouncements, Prime Day typically lures new customers to the Prime shipping service, who in turn order more stuff from Amazon, and may become users of its streaming video service. It also lures new sellers to the company’s third-party marketplace, which generated a record $3.
This cross-selling model has allowed Amazon to defy the gravity that normally afflicts such massive enterprises; no other business generating more than $400 billion in revenue annually even comes close to the 30% annual growth rate Amazon has averaged over the past four years. But that success has come with a cost. Amazon is now a prime target for regulators and lawmakers, some of whom would like to throw a wrench into the flywheel. Among theearlier this month targeting big tech is one that would effectively require Amazon to split up by breaking off its third-party marketplace business from its own retail operation. Last week also brought the surprise elevation of Lina Khan to head the Federal Trade Commission. Ms.
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