Amazon Prime Day 2022 is coming this summer. What we know
This is the first Prime Day after membership prices rose
Amazon reports nearly $4B loss in 1Q
Slatestone Wealth Chief Market Strategist Kenny Polcari discusses Big Tech's earnings as Amazon reports a $4 billion loss for Q1.
Amazon's highly anticipated shopping holiday for Prime members is kicking off this July.
The company announced in its first-quarter earnings report that the shopping bonanza will take place in more than 20 countries as in years past.
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An Amazon spokesperson said in a statement that the day will offer "incredible savings on products from national brands and small businesses across every category."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 198.22 | -4.66 | -2.30% |
However, Amazon did not reveal the exact date of the two-day event. Typically, the event had been held in the middle to end of July every year since 2015, aside from the last two years.
In 2015, Prime Day started July 15; Prime Day 2016 started July 12; Prime Day 2017 started July 10; and Prime Day 2018 started July 16, FOX Business previously reported.
In 2019, before the pandemic disrupted plans, it kicked off on July 15 for its first 48-hour event.
An Amazon truck travels in Philadelphia April 30, 2021. (AP Photo/Matt Rourke / AP Newsroom)
If the company sticks to this timeline, the event should kick off sometime between the second and third week of the month.
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Either way, the holiday is always a key driver of sales for the e-commerce behemoth and its third-party sellers.
Last year, the event, which kicked off in June, was the "biggest two-day period for Amazon’s third-party sellers, nearly all of which are small and medium-sized businesses, growing even more than Amazon’s retail business," the company previously announced.
In this photo illustration, an Amazon Prime Day logo is displayed on a smartphone. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images / Getty Images)
Members throughout all 20 countries shopped more during that event than during any previous Prime Day, purchasing more than 250 million items worldwide, according to Amazon.
AMAZON PRIME PRICE HIKE: SOME MEMBERS COULD PAY MORE THAN $139
The shopping holiday is another way to entice consumers to sign up for the membership service, which offers benefits that include free and fast shipping, Prime Video and Amazon Music.
Packages move along a conveyor at the Amazon.com Inc. fulfillment center in Robbinsville, N.J., June 7, 2018. (Bess Adler/Bloomberg via Getty Images / Getty Images)
However, it's the first Prime Day after the company raised its membership prices for the first time since 2018.
Its annual memberships increased from $119 to $139 and monthly Prime memberships rose from $12.99 to $14.99, which equates to about $180 each year.
The price hike was driven by increased wage and transportation costs along with its expansion of membership benefits, Amazon said in a letter to investors outlining its fourth-quarter earnings earlier this month.
FOX Business' Breck Dumas contributed to this report.
