Amazon seeks to boost additional sales by floating two Prime shopping events in 2022, the second of which will take place in Q4.
According to a notice seen by CNBC, online retailer Amazon (NASDAQ: AMZN) intends to organize two shopping events for Prime members this year. The notice also specifies that the e-commerce behemoth would hold the second one in the fourth quarter of 2021.
This is the first time Amazon is planning two events in the same year. The company’s decision to do this may be a plan to increase sales and attract new members to its discount club.
As Digitaltrends put it:
“Amazon’s reported decision to add another shopping festival to the calendar comes after the Seattle-based company reported sluggish growth figures for the quarter ending March 31st, with Amazon CEO Andy Jassy citing the pandemic and subsequent war in Ukraine as aggravating factors.”
Meanwhile, the annual Amazon sale, dubbed Prime Day, will take place on July 12th and 13th, notwithstanding the shopping events.
Amazon to Make the Most Of Shopping Events
Amazon began notifying select third-party merchants about the Q4 Prime shopping event, dubbed “Prime Fall”. The e-commerce giant did this through its Seller Central internet seller portal. Although the notice has no dates, Amazon has instructed sellers to submit limited-time “lightning deals” before a July 22nd deadline. The notice reads:
“The Prime Fall deal event is a Prime-exclusive shopping event coming in Q4. Submit recommended Lightning Deals for this event for a chance to have your deal selected!”
Back in April, the world’s largest online retailer revealed that it saw the slowest quarterly revenue growth since 2001. The growth plunge also comes amid a subsequent slump in the company’s shares.
Amazon could also leverage the Prime Fall event to offload a sizable chunk of extra inventory accumulated so far. The accumulation is largely due to a recorded sharp decline in consumer spending due to rising inflation.
Although the Q4 shopping event does not have a confirmed date, there are speculations that it will occur in October. This is because this month seems more beneficial to the leading online retailer than November or December. The month of November typically marks Cyber Monday, and December traditionally represents the holiday shopping season, with full-on Christmas sales. Hypothetically, holding Amazon Prime Fall in any of these two other months also conflicts with their respective associated monthly events.
Prime Day, Other Company Promo Events
Analysts have suggested that the upcoming events do not have a lot of momentum. They believe that there are several reasons for this, including slowing sales growth, dwindling order sizes, and a less assertive promotion of the event.
Amazon is increasingly exploring other avenues in order to lure shoppers. For instance, last October, the Jeff Bezos-led company hosted a beauty products event that was the first of its kind. Additionally, Amazon held “Amazon Pet Day” in May, offering incredible deals to pet owners.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
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Source: https://www.coinspeaker.com/amazon-two-prime-shopping-events-in-one-year/