Amazon Prime Day is expected to be pushed to a later date due to the novel coronavirus, according to reports.
According to Amazon meeting notes obtained by multiple news outlets, the shopping extravaganza, typically held in July, will be delayed until at least August. The Seattle-based company also reportedly expects it could see a hit of $100 million to $300 million from excess devices it may not have to sell at a discounted rate. In an email to FN, Amazon declined to comment.
In 2019, Amazon said it sold 175 million items during its 48-hour “parade of epic deals.” While the e-commerce giant did not reveal the total dollar amount Prime Day brought in, Amazon said it broke records for sales of its own devices such as the Echo Dot, Fire tablet and Fire TV Stick, drawing in participants from 18 countries. The company said it sold $2 billion in product from small and medium-size businesses, almost double the figure from the year before.
Due to its status as an essential retailer, Amazon has continued operating its warehouses, even in the states and localities that have implemented stay-at-home orders to curb the spread of the coronavirus. The e-tailer has seen a spike in demand for certain products as panicked shoppers load up on household goods and shop online instead of in stores. To keep up, it announced last month that it is hiring an additional 100,000 workers to staff its warehouses and deliver packages.
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While Amazon has seen a surge in demand for certain goods, numerous fashion and footwear retailers are anticipating dents to their fiscal-year bottom lines due to coronavirus-related store closures. Some companies are tapping into credit lines as they seek to maintain case flow. Meanwhile, retailers including Steven Madden Ltd., Macy’s and Nordstrom have made the decision to furlough workers, while top executives have announced that they will forgo their salaries for the time being.