Amazon ( AMZN Quick Quote AMZN - Free Report) is gearing up for its two-day global mega summer shopping event — Prime Day— which is set to kick off on Jun 21. Notably, the company has announced the early release of several Prime Day deals across categories —fashion, home, beauty products, toys, sporting goods, pet supplies and electronics. Also, exciting deals on Amazon brands, Amazon Devices and many more have been made available for early access. Customers are allowed to avail the deals with huge discounts from today onward. Amazon’s intention behindproviding access to Prime Day deals early is to make the event a huge success. The latest move will boost the company’s Prime Day sales and drive its customer momentum. We believe that this is expected to get reflected in the company’s second-quarter 2021 performance. More Into the Headlines
Apart from early release of deals, Amazon is providing a $10 credit to the Prime members spending $10 on products from U.S. small business brands, and from Amazon Handmade and Amazon Launchpad.
Notably, the $10 credit will be offered till Jun 20 and can be used on Prime Day. Additionally, the e-commerce giant is offering exclusive deals on Prime Video, IMDbPro and Twitch. All the efforts will not only encourage Prime subscription but also bolster the adoption rate of the streaming services. This, in turn, will likely drive growth in the company’s subscription revenues in second-quarter 2021. Prime: A Key Catalyst
Strengthening delivery and shipment services, expanding music and video content, and introducing customer-friendly offers and a robust loyalty system via the Prime subscription service are Amazon’s key growth catalysts in the retail space.
Further, Prime Day — the annual celebration of Prime — rakes in profits for the company and benefits shoppers as well as third-party sellers. Amazon’s efforts to make products from the United States-based small and medium-sized innovators, artisans, and entrepreneurs available for the Prime Day sale via Amazon Storefronts as well as Amazon Launchpad remain noteworthy. Further, Prime members will be able to shop during the upcoming mega event by using their voice commands via Alexa-enabled devices. All the endeavors are likely to pose a threat to the core as well as online retailers like Walmart ( WMT Quick Quote WMT - Free Report) , Target ( TGT Quick Quote TGT - Free Report) and eBay ( EBAY Quick Quote EBAY - Free Report) , which are already reeling under the competitive pressure of Amazon. Currently, Amazon carries a Zacks Rank #3 (Hold). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
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