Posted: 2020-10-08 20:45:13

Despite pandemic, Amazon Prime Day expected to generate nearly $10B in global sales

Prime Day will kickoff the holiday shopping season as companies battle for early sales

From Sarah Perez at eCommerce – TechCrunch
Originally published 2020 10 06
A new forecast released today estimates Amazon’s delayed Prime Day sales event will top last year’s by bringing in an estimated nearly $10 billion in worldwide sales when it runs later this month. According to eMarketer, which released its first-ever Prime Day forecast, consumers will continue to spend heavily on e-commerce and seek out deals ahead of the 2020 holiday season, benefitting the major sales event.
Prime Day has also typically inspired a range of competitive sales, given that Amazon’s event would drive an increase in online shopping that benefitted other e-commerce retailers. As of March, as many as 37% of digital retailers said their Prime Day plans were up in the air because of coronavirus, but 56% said they still expected Prime Day sales would perform well, eMarketer noted. So far, Target has planned a massive sale, Target Deal Days, to compete with Prime Day, which promises Black Friday-like discounts on hundreds of thousands of items on the same days that Prime Day runs. Walmart, on the other hand, said it would run its event starting earlier, on Sunday October 11, running through October 15.
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Tags:eCommerce,Amazon,business,e-commerce,emarketer,india,insignia,internet retailer,online shopping,prime day,retail,retailers,sales,Target,United States,Walmart