Amazon (AMZN) announced on Tuesday that it would host a second Prime Day-style event in October called “Prime Big Deal Days”, with the aim of attracting buyers ahead of the holiday season.
Key Points to Remember
- Amazon will hold another Prime Day-like sales event in October called “Prime Big Day Deals”.
- The event will be held in 19 countries, including the United States .
- It will take place just three months after Amazon held its most successful Prime Day yet, with sales of 375 million products worldwide over a two-day period.
The event will take place in 19 countries, including the United States, which comes just three months after Amazon's biggest and most successful Prime Day event to date. From July 11-12, Prime Day 2023 saw sales of 375 million products worldwide, with Prime customers saving $2.5 billion across millions of transactions. The first day of the event, July 11, was the biggest sales day in the company's history.
Massive Prime Day sales volumes have boosted U.S. online retail sales to a record high so far this year. Spending on the two days reached $12.7 billion, up 6.1% year-over-year, Adobe Analytics reported. Appliances, electronics and housekeeping supplies were among the largest categories of goods customers purchased online during the event.
"Members Prime have saved more this year than any other Prime Day event," Amazon Stores CEO Doug Herrington said last month.
Posting on LinkedIn Tuesday, Herrington said that Amazon “will share more details as we get closer to the event.” He said he “looks forward to giving our Prime members access to exclusive early bird savings this season.”
The actions of Amazon traded around 2% lower today but are up nearly 70% so far this year. That's nearly double the 37% gain of the broader S&P 500 consumer discretionary sector over the same period.
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Source: investopedia.com
