Since the coronavirus hit, Amazon has been scrambling to meet surging demand. Inventory has been hit-and-miss, nonessential items have been limited, and Prime Two-Day Shipping has all but vanished.
In order to catch up, Amazon has postponed their July Prime Day event — and according to emails obtained by Business Insider, it’s been pushed to October.
Prime Day is tentatively scheduled the week of Oct. 5.
Amazon has sent emails to vendors telling them to save the date for the week of October 5 — a placeholder for the rescheduled Prime Day event.
Publicly, Amazon hasn’t yet announced the rescheduled Prime Day dates, but vendors received similar emails for an Amazon fashion sale event that turned out to be true.
Could Prime Day be cancelled?
It’s possible, but given the communication to vendors, it’s not likely.
Prime Day — an annual “Black Friday in July” event — is a big moneymaker for Amazon, bringing in more sales than Black Friday and Cyber Monday combined (and spurring copycat sales from other retailers).
Sources close to Amazon told the Wall Street Journal that Prime Day was going to happen in September, but new coronavirus concerns pushed it back again. Last year, Amazon Prime Day fell on July 14-15.
That said, if Amazon had to push past October, they’d be in the holiday shopping season, and it wouldn’t be a Prime Day event, per se.
Amazon would lose around $100M if they can’t find a new date.
Prime Day is only 5 years old, but it’s become a very important part of the company’s financial picture. Amazon doesn’t disclose revenue from Prime Day, but the consensus from experts is that the sales for the two-day event are in the billions.
And company meeting notes from early April predict a loss of at least $100M in revenue if Prime Day doesn’t happen. Prime Day is also Amazon’s biggest generator of Prime memberships — which cost $119 per year and provide early access to deals.