The holiday season holds robust growth prospects as it provides retail companies with the scope of additional revenue generation. Hence, the season is significant for both online and offline retailers.
Keeping this in mind, Amazon AMZN, which comes out with record-breaking holiday sales every year, has planned differently this year, with a two-day special Prime Day mega shopping event that is set to start from Oct 13.
The online retail giant is conducting Prime Day event twice a year for the first time, which is allowing it to gain investors’ confidence further as the event date is nearing. Notably, the stock has soared 6% in the past week.
The move is likely to drive the company’s momentum among customers as well as sellers, which, in turn, will likely strengthen its 2020 holiday performance.
Past-Week’s Price Performance
Additionally, conducting the Prime Day event during this time of the year is likely to be a game-changer for the company’s holiday season initiatives amid the coronavirus pandemic, which has highlighted the importance of e-commerce technology.
Moreover, on the heels of its second Prime Day event, Amazon poses a strong challengeto the retail behemoths like Walmart WMT, Target TGT, Bed Bath & Beyond BBBY, DICK’S Sporting Goods DKS, and Big Lots BIG,which are leaving no stone unturned to bolster their holiday performance and bridge their gap with this e-commerce dominant.
Amazon to Remain Ahead of the Pack
Amazon is expected to remain ahead of the above-mentioned companies in the holiday season on the back of a lot of enticing Prime Day deals and other holiday initiatives
Notably, the company isinvesting $100 million on special Prime Day and holiday promotional programs in a bid to deliver an enhanced shopping experience to buyers and support sellers, especially smaller businesses.
Amazon is offering great deals on items