Amazon’s Prime Day shopping event usually takes place in July, but according to Reuters, the retail giant plans to delay it due to the COVID-19 pandemic.
The Reuters report says Amazon is “is postponing its major summer shopping event Prime Day at least until August,” according to internal meeting notes seen by the publication.
Implications of the delay? Amazon expects a potential $100 million hit from an excess supply of devices, which “it may now have to sell at a discount”, reports Reuters.
Amazon.com Inc is postponing its major summer shopping event Prime Day at least until August and expects potentially a $100 million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
Amazon Prime Day is a summer shopping event exclusively available to the company’s paid Prime subscribers, offering a variety of discounts on products, especially the company’s own Echo devices, Kindles and more.