Online retailer Amazon’s annual Prime Day shopping extravaganza starts at midnight U.S. Eastern Oct. 13 and sales are expected to exceed those of last year’s Black Friday and Cyber Monday combined.
The Seattle tech provider and online retailer’s event, which runs two full days, could net $9.9 billion in total sales, eMarketer estimates.
That figure is more than 38% above last year’s Prime Day. Amazon doesn’t release sales figures for the event, but researchers pegged last year’s sales at roughly $7.16 billion.
J.P. Morgan analyst Doug Anmuth more conservatively estimates Amazon will take in $7.5 billion of revenue from the event this year, up 42% from an estimated $5.3 billion in 2019.
“The biggest difference this year is that Prime Day is running three months later than its typical mid-July timing. [And] as such Amazon is promoting the event as an early start to holiday shopping vs. Prime Day’s typical focus on summer and back-to-school shopping,” he wrote in a recent research note.
Prime Day has been delayed by the coronavirus pandemic.
According to Fareeha Ali, research and editorial director at Digital Commerce 360, this Prime Day also stands out because the retail landscape has shifted online with many new Prime members expected to join.
“Retail has been flipped on its head this year because of the coronavirus pandemic,” she told TheStreet by email.
“With store closures, e-commerce growth exploded much more than expected. And Amazon, as the No. 1 retailer in North America, benefited from more consumers shopping online. ‘
“It’s likely that Amazon gained many new customers this year — particularly Prime members — who will be eligible to shop Prime Day deals,” she said.
Prime members pay $119 a year, or $13 a month, for their subscriptions. For that cost, they get free and fast shipping, free