Preparing for the potential sluggish holiday shopping season, Amazon will once again hold a major promotional event in October.
Amazon announced on Tuesday that it will hold a second major promotional event similar to "Prime Day" in October to attract consumers who plan to start holiday shopping early.
According to the latest information obtained by Zhītōng Finance APP, Amazon (AMZN.US) announced on Tuesday that it will hold a second large-scale promotional event similar to "Prime Day" in October to attract consumers who plan to start holiday shopping early.
The company did not disclose the specific date of this event, named "Prime Big Deal Days," but stated that the event will be held in 19 countries. According to data from third-party analysts, Amazon added two independent shopping events for its annual $139 Prime membership last year, which achieved varying degrees of success.
Amazon first held Prime Day in 2015. Part of the purpose of this discount event is to attract new Prime members, promote Amazon's products and services, and boost sales in the middle of the year.
The company held a 48-hour Prime Day event in July, and according to data from Adobe Analytics, this event increased Amazon's online sales in the United States by 6.1%, reaching $12.7 billion. Amazon stated that a total of 375 million items were sold globally during the event. Last week, it released an optimistic forecast for the third quarter, which analysts believe reflects the strong performance of Prime Day.
Retailers are preparing for a potentially sluggish holiday season this year. According to the latest data from a supply chain survey, about two-thirds of respondents expect consumers to look for discounts, and 71% of respondents expect consumers to reduce spending due to inflation.
As of the close of trading on Tuesday, the stock fell 1.6% to $139.94.