Coronavirus pushes Amazon to delay Prime Day shopping event: Report
E-commerce giant expects potential negative sales impact of $100M, Reuters reported
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Amazon is planning to delay its lucrative “Prime Day” annual shopping event to at least August due to the ongoing impact of the coronavirus pandemic, according to a report on Friday.
Aside from the delay, the e-commerce giant is projecting a potential $100 million shortfall from sales of excess Amazon devices that would be sold at discounted prices, Reuters reported, citing leaked internal meeting notes. Prime Day has typically occurred in July since it was first held in 2015.
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Amazon representatives did not immediately respond to FOX Business' request for comment on the report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 198.38 | -4.50 | -2.22% |
Prime Day has emerged as one of Amazon’s most lucrative events of the year. Last year’s 48-hour sales window ranked as “the largest shopping event in Amazon history,” according to a company press release at the time.
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Amazon said sales from the 2019 event exceeded its previous Black Friday and Cyber Monday events combined. While specific sales figures were not disclosed, Amazon said shoppers purchased more than 175 million items during the 48-hour window.
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The coronavirus pandemic has forced widespread changes to operations at many U.S. businesses, with retailers in particular under pressure. Amazon said last month it would hire 100,000 employees to bolster warehouse and delivery staff amid a surge in shopping demand from Americans stocking up on supplies.
Amazon announced temporary delays of shipments of nonessential items as part of its efforts to prioritize deliveries. At the same time, company employees at a warehouse in Staten Island, New York, and other locations have raised questions about work conditions.
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