Amazon (AMZN) - Get Report has said it will not hold its Amazon Prime Day in July this year. The e-commerce behemoth is delaying the two-day shopping event, but has not yet said when it will be held. Amazon has told third-party sellers to tentatively plan for the event in early October.
According to reports, Amazon warehouses have been strained due to extreme customer demand influenced by the coronavirus pandemic.
“Over the last five years, Prime Day has become a special celebration and time for Prime members to shop incredible deals for themselves and for friends and family – and it’s something we look forward to every year,” an Amazon spokesperson said.
”This year we’ll be holding Prime Day later than usual, while ensuring the safety of our employees and supporting our customers and selling partners. We look forward to sharing more details soon."
Back in April, Reuters reported that Amazon expected to lose $100 million on excess products it would have to sell at a discounted price if Prime Day was moved to a later date. With the move now switching to later in the year, Amazon now has millions of products in possession that would have been expected to be sold sooner.
In 2019, Amazon said of Prime Day that "sales surpassed the previous Black Friday and Cyber Monday combined worldwide. Prime members purchased more than 175 million items throughout the event."
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