Report: Amazon postpones Prime Day until October
Amazon is reportedly delaying its annual Prime Day online sales extravaganza an additional month, from September to October.
According to CNBC, leaked internal Amazon emails indicate the e-tail giant is targeting Monday, Oct. 5 as the starting date for the 2020 edition of Prime Day. Since initially launching the Prime Day promotion in 2015, Amazon has always held the event in mid-July.
Although Amazon has declined comment, media reports have indicated the company initially decided to postpone Prime Day until at least August in April 2020. In May, reports circulated that Prime Day would not be held until September.
Amazon has been dealing with an ongoing surge in online orders resulting from the COVID-19 pandemic. The company has lifted temporary restrictions it placed on delivery of non-essential items, but is still experiencing out-of-stocks and delayed shipments. In its first quarter earnings report, Amazon said Q1 sales were up 26% and it expects to make $4 billion or more in operating profit during Q2. However, the company expects to spend that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping employees safe.
Amazon does not release Prime Day results, but analysts have estimated that the 48-hour Prime Day 2019 event generated $6 billion or more in gross merchandise volume.
In late June, Amazon held its first-ever “Big Style Sale,” a huge sale on summer fashion items and a wide range of accessories, including sunglasses, shoes and pocketbooks.
Source: Chain Store Age