Coronavirus likely to delay Amazon Prime Day
E-commerce giant kicked off ‘The Big Style Sale’ for summer as Prime Day’s date remains in question
Former Toys 'R' Us CEO Gerald Storch on Amazon's 'big style sale' and its strategy to become a world retail powerhouse.
Amazon’s summer Prime Day sale has traditionally been carried out in mid-July, however, the coronavirus pandemic might cause a delay considering the e-commerce giant hasn’t advertised the event as it has in the past.
AMAZON PRIME DAY SALES: EARLY ESTIMATE SHOWS GAIN FROM LAST YEAR
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 202.61 | -8.87 | -4.19% |
When asked about when Amazon Prime Day will take place this year, an Amazon spokesperson told FOX Business the company has “not announced any details on Prime Day.”
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A report from The Wall Street Journal stated that the company agreed to move Prime Day to September, according to unnamed insiders who are familiar with the matter. The delay is reportedly meant to ease the strain on Amazon warehouses, which have been trying to keep up with increased demand in the last few months as millions of Americans have sheltered in place due to the pandemic.
As shoppers wait for official word on Prime Day, Amazon has launched The Big Style Sale, an event that offers up to 50 percent in savings on “top brands.”
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A screenshot of Amazon's The Big Style Sale banner. (Amazon)
The move is a calculated one, according to Gerald Storch, former CEO of Hudson’s Bay Co. and Toys “R” Us.
“The Big Style Sale is an opportunity for them to do even better in apparel," Storch told FOX Business. "Clothing has been a major push of theirs in recent years. They have done pretty well on the bottom end with casual apparel but they really haven’t taken over clothing the way they have so many other categories. They had to lay off of this a little bit during the lockdowns as they focused on necessities, and making sure commodities were in stock. Now is an opportunity with Prime Day postponed to September to focus on apparel a bit and they are doing it quite heavily starting today with a lot of sales.”
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Adidas, Levi’s, Nautica, Ray-Ban, Steve Madden and Samsonite are just a few brands that are having big sales right now on Amazon’s online marketplace.
Amazon Prime Day began in 2015 as a celebration of the company’s 20th anniversary. That first year, the sales lasted for 24 hours and nine countries participated. Fast-forward to 2019, and Prime Day was extended to 48 hours and expanded to 18 countries.
Last year, the marketing technology company IgnitionOne estimated that Amazon Prime Day would generate $6.1 billion despite workers going on strike over conditions in the company’s fulfillment centers.