NEW YORK: Amazon.com said on Monday it would hold its annual shopping event, Prime Day, on Oct 13 and 14 as the e-commerce giant aims for an early kickstart to the holiday season.
The company earlier this year had postponed the two-day shopping event, which started in 2015 to drum up sales during the summer shopping lull, due to the COVID-19 pandemic.Amazon said it is investing an additional US$100 million in special Prime Day and holiday promotional programs. The Seattle-based company is on an expansion spree on the back of a meteoric rise in its business, thanks to a surge in online orders during coronavirus-induced lockdowns, which helped it post its biggest-ever quarterly profit in 26 years in July.
The company does not disclose revenue from the event, but has said that merchants contributed to US$2 billion in sales during Prime Day in 2019, which spanned for 48 hours and 18 countries. Amazon's stock, which has surged nearly 70 per cent this year, was up about 1 per cent at US$3124.54 in afternoon trade on Monday.
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