Amazon to delay Prime Day promotion: Reuters
According to Reuters, Amazon is delaying its annual Prime Day shopping event in the wake of the coronavirus pandemic. Yahoo Finance’s Dan Howley joins Seana Smith to discuss.
Video Transcript
SEANA SMITH: Howley, I want to switch gears here a little bit and just [INAUDIBLE] Reuters, and it has to do with Amazon. The news there is that Amazon will delay its July Prime Day sales event until at least August. What do you think the potential implications of this are, if there are any?
DAN HOWLEY: You know, I mean, for Amazon, Prime Day is huge for them. It's similar to the holiday shopping season as far as the amount of traffic that they end up seeing to the site and the amount of sales that go on. Previously, Prime Day, I mean, when it first rolled out, it was terrible. It was like, you know, I can get a deal on some toilet paper, though right now that might be the best thing in the world. Now--
SEANA SMITH: That would be the number one seller at this point.
DAN HOWLEY: Yeah, yeah. Well, now they've actually rolled out things that people want-- TVs, game consoles, more expensive big ticket items. And I think a lot of manufacturers are on board with that, so it is going to be disappointing. But I think, you know, that coupled with the idea that the economy isn't doing so hot right now and the amount of jobless claims that we've seen, that could hurt them more so than moving the date back for it. So it'll be interesting just to see when we start to open up the economy again, when people start to get back to work, and then where they place Prime Day at that point. But for now, obviously pushing it back just a few months.
SEANA SMITH: All right, Dan Howley.
