Amazon (NASDAQ:AMZN) received fewer new Prime memberships over the run-up to its July 8-11 Prime Day than last year, according to proprietary internal data viewed by Reuters.
The data showed 5.4M new Prime sign-ups during the 21 days leading into Prime Day and the four days of the event, a decline of approximately 2% from a year ago, and equally short of the company’s own expectations.
The company views Prime Day as its biggest driver of new memberships, with shoppers drawn by fast, free delivery and exclusive discounts. While it touted “record-breaking” sign-ups in the 25 days leading up to and during the event, it offered no details.
While the company may have lured in fewer new members, it broke its own Prime Day records with $24.1B in online transactions during the four-day event, 30% more than last year and 28% better than Amazon’s (NASDAQ:AMZN) own forecasts.
Amazon (NASDAQ:AMZN) shares kicked off Tuesday’s trade down by 2%.
