Zimbabwe grain deficit seen widening to 1.17 mln tonnes    Al-Sisi announces Cairo Declaration to end Libyan conflict    Investigations under way as a large fire destroys Amazon Distribution Warehouse in Southern California    North Korea threatens to permanently shut liaison office with South    India overtakes Italy's coronavirus passes as lockdown easing looms    Egyptian state banks collect over $10 bln from high-yield savings product    AfDB may offer additional funding to help Egypt amid COVID-19 fallout    Paris gallery seeks inspiration in ancient China's hats to enforce social distancing    Italian federation agrees to allow five substitutions in Serie A    Solskjaer talks up Manchester United mentality ahead of Tottenham match    Egypt bans sugar imports for 3 months amid global decline in prices    US officials block police 'extreme tactics' as protests enter 12th day    Egypt, Belgium stress importance of bolstering bilateral ties    Michael Jordan giving $100 million for racial equality, justice    Friday's prayer to be held at Cairo's Al-Hussein Mosque next week    Egypt Purchasing Managers Index increases 37% in May-Planning Ministry    Egypt reaches staff-level agreement with IMF over $5.2 billion standby loan    Convalescent plasma shows promising results in treating severely-ill coronavirus patients, says Egyptian minister    Jordan reopens mosques for socially distanced prayers    Dortmund's Sancho, Akanji fined for getting haircuts without face masks    Turkey's Erdogan backtracks on weekend lockdown after public backlash    Egypt reports 1,152 new coronavirus cases on Thursday – ministry    Facebook to apply state media labels on Russian, Chinese outlets    Moroccan actor Youssef Kerkour scoops BAFTA nomination    Cairo Airport Museum receives artifacts ahead of planned opening    Non-oil imports decrease 21.2% between January and April: CAPMAS    Saudi SMEs grant $200m to 2,176 Egyptian projects: International Cooperation Minister    US prosecutors charge 3 more police officers over George Floyd killing    How to keep children entertained and relaxed during quarantine    CAF draws timeline for resumed continental championships amid COVID-19    Hospitals treating COVID-19 patients to increase to 376: Zayed    Egyptian Football star Ahmed Fathy's wife, daughters infected with Coronavirus    TSFE to develop, operate Bab Al-Azab historical area    Sudan urges UN Security Council to encourage GERD parties to refrain from 'unilateral measures'    Misusing the Nile    Egypt's right to water    Culture Ministry discusses preventative measures for resumed activities    Egyptian and Irish theatre challenge the coronavirus    Egypt's Zamalek close to signing Angola's Papel in summer    We Are One: Global film festival launches amid pandemic    Zamalek re-hang ‘Real Club of the Century' billboard after removing CAF logo    Armed Forces neutralise 19 militants in North Sinai operations    Farwell to 89-year old Egyptian actor Hassan Hosny    Ethiopia says it won't accept Egypt's ‘historic rights' to Nile water    Egypt removes 484 illegal constructions and encroachments on Nile    Salah did not pressure administration to include players on team: Ghazal    Sisi congratulates Egyptians on occasion of Eid Al-Fitr    Egypt's 12 MPs came into contact with coronavirus infected parliamentarian    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Amazon to postpone Prime Day sales event due to coronavirus
Published in Amwal Al Ghad on 03 - 04 - 2020

Amazon.com Inc is postponing its major summer shopping event Prime Day until at least August and expects a potential $100-million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.
Amazon declined to comment. Prime 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, in which Amazon's general counsel wrote critical comments about a fired employee previously reported by Vice News, offer a rare insight into strategic planning inside the world's largest online retailer.
They reflect how the company is rapidly responding to business risks from the novel coronavirus, which has caused a surge in demand for household staples and led to several demonstrations by some Amazon warehouse workers fearful of contagion.
The Prime Day decision means Amazon will have 5 million extra devices for sale, items like its voice-controlled Echo speakers that have gained wide popularity. It also affects third-party merchants who have come to depend on Amazon's platform for revenue.
"We probably have to promote sooner, which will be difficult if we're capacity constrained," General Counsel David Zapolsky wrote in notes from a daily meeting of Amazon executives. The notes said this would result in a $300-million impact "worst case," with a $100-million hit being more likely.
It was unclear how solid the estimates were or what the impact to Amazon ultimately would be. Amazon said more than 175 million items have been sold on last year's Prime Day, among which the best sellers were Echo Dot and Fire TV Stick.
Launched in 2015, Prime Day has expanded from a one-day event to a 48-hour sale last year, with 18 countries participating. Touting exclusive discounts for over 100 million Prime Members, Prime Day has been an incentive to lure customers into Amazon's ecosystem, as well as promoting Amazon-owned devices.
While Amazon does not disclose the gross merchandise volume (GMV) Prime Day generates, it noted third-party sellers contributed to $2 billion in sales during Prime Day in 2019.
Baird analyst Colin Sebastian estimates close to $6 billion in last year's Prime Day volume, and market intelligence firm IgnitionOne suggests at least $6.2 billion in GMV during Prime Day 2019.


Clic here to read the story from its source.