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What is Amazon Prime Day sale?
Amazon Prime Day is one of the most popular online limited-time sales events. It started the activity in July 2015 to mark its 20th anniversary. Amazon offers heavy discounts and deals across all product segments for two days. It typically provides Pre-Prime and Post-Prime deals in the same week.
Amazon Prime members also get additional advantages like free shipping, extended access to sales, and other perks. Membership cost is around US$13 per month. It also offers a 30-day free membership.
When do the Prime Day sales start?
Amazon Prime Day sale is an annual event and usually held in the second half of June or midsummer. Last year, it was organized in October due to the pandemic.
In 2019, Amazon had announced the dates almost three weeks before the event.
Also Read: Amazon (NASDAQ:AMZN) Prime Day sale kicks off; 2 mn deals on offer
Source: Pixabay.
What is the objective behind the sale?
Amazon wants to attract millions of ready-to-buy consumers. The products are heavily discounted, with the expectation that brands can sell vast volumes of products.
What products come under sale?
Discounts are available on thousands of products, from video games to smart-home gadgets. Deals on television, home appliances, fashion and electronic items, etc., are offered. Almost every item comes under the big-day savings event. With so many retailers now participating in Prime Day sales, it becomes tough to predict what will be on offer.
Also read: 10 retail stocks to explore as economy improves
Which are Amazon competitors offering such sales?
Walmart and Wayfair conduct the sale on the eve of the Memorial Day celebration. Walmart’s e-commerce platform Flipkart organizes big Billion Sale. Online portal eBay also conducts such events.
How are the customers benefiting from this?
Customers can avail heavy discounts on various items, such as Amazon electronic devices, robot vacuums, headphones, and kitchen appliances. The deals are usually attractive. Amazon also offers benefits, like a free pass and gift cards, to customers.
Customers can also use Amazon’s Prime Rewards Visa Signature Card, which has no up-front cost or annual fee and comes with a US$100 Amazon gift card. They can earn a 5% cashback on almost all purchases made through the card and a 2% discount on restaurant, gas station, and drug store bills.
Amazon also offers 10% cash back on select items. It is one of the best options to save money on Prime Day and year-round.
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How is Amazon benefitting?
Amazon Prime Day sale has been a money-spinning event for the company. In 2020, its Prime Day global sales rose by around 45% to US$10.40 billion from US$7.16 billion in 2019.
As per Amazon, marketplace sellers were the big winners in 2020, selling over US$3.5 billion worth of goods through their platform. Sales grew by approximately 60% YoY.
