Bloomberg News reports that Amazon.com Inc. will hold a second Prime Day sale on October 11th and 12th to boost sales this year. This move is being made especially for those consumers that are always on the lookout for some pocket-friendly deals and the ones that are planning to start their festive shopping a little earlier. This is the first time Amazon has arranged or hosted such an event two times in the same year.
A lackluster holiday is what the retailers are bracing and gearing up for, and this will need deep discounts to move a glut of inventory. In the meantime, several consumers have plans to curb higher food and fuel costs that have left them with much less to spend.
One-third and perhaps more consumers are saying that they are planning to begin their holiday shopping in October or maybe much before that, as per a survey that Bankrate.com conducted.
The e-commerce giant’s so-called “Prime Early Access Sale” is expected to feature exclusive offers extended to prime members in almost 15 countries. Prime Day was launched by the Seattle-based company way back in 2015, and this was an effort to appeal to and attract new subscribers who have paid $139 annually for shipping discounts, miscellaneous perks, and video streaming.
Bloomberg News reports that the event aids Amazon in locking in the shoppers much before the holiday season and further improves its relationship with the existing customers of the shopping portal. This is done by offering goods and Amazon gadgets to its customers.
Bloomberg News reports that online sales in the United States this year will escalate by about 9.4% to $1 trillion. This is the first time the growth has slid into the single digits. In June, the figure had lowered further from a previous annual forecast. Spending on Amazon will reach $400 billion, up by 9% and slower in the overall industry, as said by the research firm.
In July, Amazon arranged for a Prime Day promotion that gave a boost to online spending in the United States by as much as 8.5%, taking the figure to $11.9 billion, as per Adobe Inc. Amazon stated that it had sold more than 300 products over the two days, which is more than what was documented in any earlier Prime Day deal or Day.
