Remember 10 years ago when Prime Day was one day? It extended to two days in 2021 but starting this year, the ‘day’ is now 96-hours long — four full days.
The headline crossing at the moment is that sales on Day 1 were down 41% compared to a year ago. That’s not a good look for the consumer at first blush but last year it was still a two-day event, so I doubt it’s an apples-to-apples comparison.
Shares of Amazon fell to $220 from $222 on the headline but have bounced back with the market likely concluding that the longer timeline will balance the sales. I’d trust Amazon on this one, they’re the all-time champions of internet marketing and they likely have a pretty good strategy on the slower, longer drip of sales in a four-day event.
This article was written by Adam Button at www.forexlive.com.