Amazon deems 'Prime Day' a success

Despite last-minute competition from Wal-Mart Stores Inc., Amazon.com said its Prime Day sale was more successful than its Black Friday counterpart.

Orders for Wednesday's one-day sale surpassed those from Black Friday in November, the company said in a statement. In 15 minutes, Prime members scooped up 35,000 “Lord of the Rings” Blu-Ray sets, 28,000 Rubbermaid sets and tens of thousands of Fire TV sticks. The 1,200 TVs priced at $999 sold out in less than 10 minutes.

The sale celebrated Amazon's 20th anniversary and was available only to Prime members, who pay a $99 annual fee for free two-day shipping and access to entertainment including TV shows.

Amazon declined to say how many new Prime members it signed up.

But the sale was called “lame” by customers in numerous tweets, with several saying the only useful thing they bought was Tupperware.

On Monday, Wal-Mart announced its own rival one-day sale Wednesday. It included more than 2,000 online-only discounts. For at least 30 days, the retailer said, it will reduce the minimum order to qualify for free shipping to $35 from $50.

Analysts said the heavy promotions reflect increasing competition for shoppers who are reluctant to spend despite an economy on the upswing.

“Both companies are likely to grab share from retailers that don't participate in heightened promotional activity,” according to a report from Bloomberg Intelligence. “Deals may drive shoppers to buy school and college merchandise early, leaving fewer dollars to spend elsewhere.”

With Prime Day, Amazon bet heavily that it could recruit new Prime customers, analysts said. The Seattle company is pushing a 30-day free trial, which could turn into paying members.

Online shopping is an increasingly critical part of retail business plans.