Amazon to Hold Holiday Shopping Event in October
[Stay on top of transportation news: .]
Amazon said Sept. 26 that in October it will hold a second Prime Day-like shopping event, making it the latest major retailer to offer holiday deals earlier this year to entice cautious consumers struggling with tighter budgets.
During the Oct. 11-12 event, Amazon Prime members will get early access to discounted items. The 鈥淧rime Early Access Sale鈥 follows Amazon鈥檚 annual Prime Day in July.
The Seattle-based e-commerce giant has long used these kinds of sales events to lure people into its Prime membership, which offers faster shipping and better deals for $139 a year. But October鈥檚 event will be the first time it has held a major sales drive twice in a year.
Amazon鈥檚 retail business had slowed down in recent months. And the shopping bonanza signals a recognition that it needs to provide more deals to inflation-hit consumers in what鈥檚 expected to be a challenging holiday shopping season for retailers.
Last week, Target said it would begin offering holiday deals in early October. Meanwhile, Walmart is expanding its window for gift returns to between Oct. 1 and Jan. 31, compared with last year鈥檚 return window of Nov. 1 to Jan. 24.
鈥淲hat Amazon wants to do is be part of that early crowd and get a bite of the cherry,鈥 said Neil Saunders, managing director at GlobalData Retail. 鈥淎nd the best way to do that is, rather than having little deals here and there, is to have a big day that鈥檚 almost like a holiday kickoff.鈥
This year marks the second year in a row consumers are expected to shop earlier for holiday deals. Last year, Americans started shopping earlier to avoid shipment delays caused by supply chain snafus. This year, analysts expect many budget-conscious consumers to do the same, aiming to spread out their spending and snag gifts before prices rise later on.
Jamil Ghani, vice president of Amazon Prime, said the company will offer deals on digital items and products that are 鈥減articularly relevant for the holiday season,鈥 as opposed to its Prime Day event in July, which, for example, focused on back-to-school items. He declined to say whether a fall discount event will be a permanent fixture for Amazon going forward.
鈥淲e鈥檙e just focused on having a great event this year,鈥 Ghani said. 鈥淚 can鈥檛 say what鈥檚 going to happen in the future, we aren鈥檛 really thinking about it.鈥
Amazon.com Inc. ranks No. 19 on the Transport Topics Top 100 list of the largest private carriers in North America.
Want more news? Listen to today's daily briefing below听or go here for more info:
听
