Amazon Prime Day Tipped To Hit $9.9B Despite COVID Crisis
Amazon’s annual Prime Day shopping event is forecast to generate US$9.9 billion worldwide, despite the economic impact of the COVID19 pandemic.
According to eMarketer, US$6.17 million is tipped to come from the United States, alongside global consumers seeking competitive deals ahead of the holiday season.
A new Trajectory Report from Power Retail reveals the a majority of Aussie consumers plan to start Christmas shopping earlier this year, amid concerns of delivery delays.
eMarketer figures suggest Amazon’s Prime Day this year could surpass 2019 results, which generated US$6.93 billion.
It follows total Prime Day sales estimates of US$1.5 billion, US$2.47 billion and US$4.13 billion in 2016, 2017 and 2018 respectively.
Amazon does not disclose exact sales figures, however, revealed it sold over 175 million during the Prime Day event last year.
The e-commerce giant moved Prime Day from mid-July to October this year, citing the effects of the coronavirus pandemic.
Amazon did run Prime Day in India during August this year, which reportedly notched record seller participation and at least one million new subscribers for its Prime membership service.
Prime Day is set to commence on October 13, 2020 (US), with local launch details to be officially announced.
The sales event is known for flash Lightning Deals and heavily discounted tech products.
eMarketer seller feedback reveals that many digital retailers still expect Prime Day sales to perform well despite the economic impact of the COVID19 pandemic.