Amazon.com Inc, AMZN is set for its annual Prime Day event, with CEO Andy Jassy promising a shopping spree unlike any the Seattle-based company has hosted.
Scheduled to run from 3 a.m. ET on July 11 to the same time on July 12, the retail rush promises “more deals than any past Prime Day,” with a fresh set of deals dropping every half an hour during certain periods.
According to Bank of America Corp BAC analyst Justin Post, the event’s timing couldn’t be more perfect as several retailers, including Amazon, have observed that consumers have become more cost-conscious in 2023.
Jassy hinted at the novelties planned for this year’s event. The broad array of discounted items, as Jassy In said on CNBC, will be made available not just on Amazon.com but also through third-party merchants participating in the new "Buy with Prime" feature.
The move is set to allow direct-to-consumer shipping off of merchants’ own websites.
Noteworthy deals during Prime Day include:
- 60% off Gap Inc GPS clothing
- 50% off Sony Group Corp SONY headphones
- Bissell vacuums
- 40% off on Peloton Interactive Inc PTON Bike and Bike+.
Read Also: You Can Grab The AirPods Pro 2nd Gen With $50 Discount Ahead Of Prime Day Sale
First-party Amazon and Alexa items, including the 43" Fire TV Omni Series, Fire TV Stick (3rd Gen), Echo Show 8 (2nd Gen), Ring Indoor Cam (2nd Gen), Kindle Scribe, and the new Fire Max 11 tablet, are also featured with discounts up to 75%.
Post estimates that Prime Day could generate around $12 billion in Gross Merchandise Volume (GMV). With a projected 10% year-over-year first-party Prime Day sales growth and a 14% third-party sales growth, BofA anticipates a total GMV of $11.95 billion for Prime Day.
The shopping event is expected to account for a considerable 7.4% of GMV for the quarter, showing a slight increase from 7.2% last year. Though, it’s worth noting that Prime Day usually impacts daily sales slightly negatively in the days surrounding the event.
But what really sets Prime Day apart this year is Amazon’s transition to a regionalized logistics network. The upgrade, as pointed out by Jassy, enables the fastest Prime deliveries ever.
Coupled with more merchant participation and steep discounts, Amazon is expected to have a relatively strong Prime Day, possibly even exceeding BofA’s 12% growth estimate compared to Prime Day last year.
Ahead of the event, Amazon has already started posting deals on its site, including a discount on the Amazon 43-inch Omni 4K Fire TV, available for $99.99 after requesting an invite to buy. More to that, dozens of deals on Alexa-powered devices starting from $12 have already gone live.
Amazon is set to deliver an array of deals across all categories, including consumer electronics, home items, kitchen appliances, apparel, and toys, ensuring a retail event that caters to all shopping preferences and budgets.
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