SEATTLE _ Amazon.com said shoppers were buying items "at record levels" a few hours into Prime Day, the annual summer discount extravaganza that the Seattle-based e-commerce giant first concocted three years ago.
The discounting, exclusively for members of Amazon's Prime loyalty program, began on Monday at 6 p.m. Pacific time. In a statement sent at about 1 a.m., a spokeswoman for the retailer wrote that "millions of members" have participated.
So far, the Echo, a voice-activated speaker and digital assistant, is the best-selling item in the U.S. Other hot sellers include Fire tablets, a smaller version of the Echo device, and a genetics test dubbed 23andMe.
Analysts with Cowen say this year's Prime Day will generate more revenue than its previous incarnations. This year it lasts longer (30 hours versus 24 hours in the past). It will also be available in Mexico, China and India, and includes an unprecedented variety of items.
The analysts estimate that the first Prime Day, in 2015, boosted Amazon's revenue by about $410 million. But more important, according to the Cowen analysts, is that the retail holiday spurs people to sign up for the Prime membership program.
