Time for discounts! This year marks the sixth consecutive year that Amazon.com Inc. (NASDAQ: AMZN), the largest American online retailer, will host the renowned Prime Day. What can attendees of the event, which will take place on July 12 and 13, expect?
According to Digital Commerce 360, Amazon’s store sold more than $11 billion worth of goods during Prime Day last year, an increase of 8% over the previous year. At first glance, growth appears modest, but the business will have to make a difficult comparison in 2021. Due to shuttered malls and retailers, Prime Day sales rose by 45 percent in 2020, a year earlier.
Macroeconomic variables including inflation, rising energy costs, and unsolved supply chain concerns will have an impact on Amazon sales this year. Customers become more inclined to spend money on necessities and spend less on discretionary items as a result.
JD.com (NASDAQ: JD), one of the pioneers in Chinese online retail, has finished its 618 shopping festival, and the results may give Amazon cause for hope. More than $56 billion worth of goods were sold over the course of the 30-day event, an increase of 10% from the previous year. At the same time, products for protecting one’s health and improving one’s house were in high demand.
As an illustration, JD increased its sales of robotic air purifiers and vacuum cleaners this year. The firm also had a sharp increase in the sales of several categories of gadgets, including televisions, which witnessed a fivefold increase in sales and a 120 percent increase in laptop sales. The company also noted a rise in the frequency of purchases of leisure and travel-related goods.
As a result, Amazon might anticipate increased sales in at least the same areas. For platform users, Prime Day is still a significant event. Many of them purposefully put off buying more expensive items during this particular time period. Amazon will be able to disclose the first sales figures even before the start of the event because the store started the first Prime Day promos last week.