Amazon's Prime Day Generates Estimated $1 Billion in Sales

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Amazon said in the US, the Amazon Echo was the best -selling item by 4 a.m. and the Echo was selling for $89.99 on Prime Day, half the usual price.

But Echo Dot was the big victor this year. When it comes to audio, Google Home actually has the edge over Amazon's Echo, due to the fact that it comes with more integrated speakers than the echo.

"To those customers who tried Prime for the first time and our long time members, thank you for a great Prime Day", Greg Greeley, the Amazon Prime division's vice president, said in a statement.

The Echo Dot was available to Prime subscribers for $35 instead of $50 during Prime Day.

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Amazon Prime Day is here for the third year running, offering Prime member exclusive discounts across a range of products for a 30-hour period.

Including sales from all retailers worldwide, the Echo Dot was the best-selling product on Amazon.

Amazon Echo is a hands-free speaker that can be controlled by the user's voice.

"We estimate Prime has more than 70 million global subs, including 35 to 40 million plus in the U.S. with plenty of runway for continued growth", JP Morgan analysts estimated last week.

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The annual event, which discounts items for Amazon Prime members, beat out Black Friday and Cyber Monday to be the biggest shopping day Amazon has ever had. In Amazon's most recent quarterly conference call, management noted that the company is "doubling down" on Amazon Video investments, including both video content and marketing, both in the USA and globally. Amazon shares hit a record high of 1,017 on June 19. One store said their daily sales rocketed by 500 times after one of their products became the No.1 Best Seller in four different categories.

Shoppers must be Amazon Prime members ta enjoy the advantage of discounts, which costs $99 a year and also includes perks like free, two-day shopping, access to Prime Video and Prime Music.

We're almost three years out from the launch of the original Amazon Echo, and reports are starting to swirl suggesting that a follow-up device is in the works. Tech giants from Amazon to Apple are betting big on voice computing, which experts say is the future of the field.

The first Prime Day, which took place in 2015, took place 10 years after Amazon first rolled out Prime.

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