Amazon is postpo­ning its major summer shoppi­ng event, Prime DayAmazon is postponing its major summer shopping event, Prime Day, until at least August and expects a potential $100 million hit from excess devices it might now sell at a discount, according to internal meeting notes seen by Reuters. Netflix Party: Now you can watch movies together under coronavirus lockdownPrime Day, a marketing event Amazon started in 2015 to drum up sales during the summer shopping lull, has previously occurred in July, though the company never publishes the date far in advance. The notes said this would result in a $300 million impact “worst case,” with a $100 million hit being more likely. The company does not disclose revenue from the event but has said merchants contributed to $2 billion in sales during Prime Day in 2019, which spanned 48 hours and 18 countries. The company has been working to open additional data centers in Ireland for its cloud unit Amazon Web Services (AWS).

Source: The Express Tribune April 04, 2020 06:22 UTC