Prognosticators are calling for big numbers from Amazon (NASDAQ:AMZN) Prime Day this year. The two-day shopping holiday on Oct. 13 and 14 could bring in as much as $10 billion in sales, according to eMarketer, with $6.2 billion of that coming from the U.S.
Prime Day has become such a big event in the retail industry that competitors, including Walmart, Target, and others, are copying Amazon with their own simultaneous sales, hoping to capture a piece of the shopping frenzy.
Still, 2020 is a strange year for a number of reasons. Prime Day usually runs in July, but Amazon delayed it this year after the e-commerce titan was overwhelmed with demand in the early months of the pandemic. Since then, the company has opened up more fulfillment capacity, allowing it to meet additional demand from Prime Day, and some of the pandemic-driven surge has now moderated.
Still, despite forecasts of blowout sales from Prime Day, there are reasons to believe that the shopping holiday may not live up to the hype.
1. Consumers are distracted
There’s a reason Amazon usually holds Prime Day in July. Not only is there a lull in the retail shopping calendar before the back-to-school season, but customer interest is also ripe for the picking. Office work slows down, kids are off from school, and people generally have more