Amazon Extends Prime Day to Four Days Amid Economic Challenges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Source: CNBC
- Extended Duration: Amazon's annual Prime Day is set for June 23-26, lasting four days for the second consecutive year, aimed at attracting more shoppers and increasing membership registrations, reflecting the company's keen insight into shopping trends.
- Promotional Focus Shift: This year's promotions will emphasize groceries and household essentials, with items like produce, hot dog buns, and meats priced as low as $1, demonstrating Amazon's adaptability to changing consumer demands amid rising economic uncertainty.
- Changing Consumer Behavior: As economic conditions worsen, consumers are increasingly opting for practical items like trash bags and dishwasher pods during Prime Day instead of indulgent purchases, highlighting their sensitivity to financial pressures.
- Market Environment Challenges: Despite Amazon's efforts to drive sales through promotional events, U.S. consumer sentiment fell to a record low in May, primarily due to surging oil prices and geopolitical factors, indicating the external challenges the company faces in boosting sales.
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Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise
44 Analyst Rating
41 Buy
3 Hold
0 Sell
Strong Buy
Current: 270.640
Low
175.00
Averages
280.01
High
325.00
Current: 270.640
Low
175.00
Averages
280.01
High
325.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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