eBay’s headquarters in San Jose, California, U.S.
Bloomberg | Getty Images
Amazon’s Prime Day shopping event, which kicks off Tuesday, could also impact a number of other e-commerce companies, for better or for worse, according to one Wall Street analyst.
Typically, online retailers see volatility around the e-commerce behemoth’s annual event, which is normally held in July but was delayed this year due to the coronavirus pandemic, JPMorgan analyst Doug Anmuth said in a note to clients. The implications for online retailers often depends on the categories that Amazon chooses to promote during the shopping event, he said.
Anmuth called out three: Pet supplies retailer Chewy, eBay and the fashion styling service Stitch Fix.
During Prime Day 2019, for example, Anmuth said Amazon offered 60% off a first-time pet food subscription, which Chewy then matched in a bid to compete. EBay ran a sale and marketing campaign that called Amazon out directly during last year’s event, holding its own “Crash sale” that mocked when Amazon’s website crashed once during a previous Prime Day.
This year, Amazon is already heavily promoting its fashion offering and personal-shopper service, which could have implications for Stitch Fix, Anmuth said. Stitch Fix has not publically announced any rival offers around Prime Day.
Representatives from Chewy, eBay and Stitch Fix did not immediately respond to CNBC’s requests for comment.
A number of other companies could see some sort of impact as well. Big-box retailers Target and Walmart are holding their own deal days next week to compete with Prime Day.
JPMorgan is projecting Prime Day, which runs Oct. 13-14, will draw revenue of $7.5 billion over its 48-hour course, up roughly 42% from an estimated $5.3 billion in 2019.
With Prime Day delayed this year into the fall, many analysts expect the event will now mark
Alexa, when is Amazon Prime Day? We finally got the answer this week, as Amazon announced its annual “Prime Day” sales event will kick off at midnight Pacific Time on Tuesday, October 13, and run through Wednesday, October 14. Prime Day came to life on July 15, 2015, as a way to celebrate Amazon’s 20th birthday, offering deep discounts to Prime members across a wide variety of categories. Each year, the event has grown larger. In 2019, Prime members worldwide purchased more than 175 million items, resulting in sales that surpassed Black Friday and Cyber Monday combined. Amazon’s own Echo and Fire branded products have typically been the bestselling products, often enticing customers to purchase Amazon Prime memberships.
Historically, the annual event has taken place in Summer, however, this year, Prime Day was delayed due to COVID-19. With Prime Day taking place in October, it is expected to impact holiday spending this year significantly.
Predicting consumer spending for this holiday season has been top of mind for most retailers and brands this year, as COVID-19 has introduced substantial uncertainty into the 2020 holiday season. Most publicly-traded retailers have withdrawn their guidance for Q4, citing considerable uncertainty. The chief economist for the National Retail Federation (NRF), Jack Kleinhenz, says, “I am cautiously optimistic about the fourth quarter in terms of the economy and consumer spending, but the outlook is clouded with uncertainty pivoting on COVID-19 infection rates.”
Traditionally, the Thanksgiving Day weekend kicks off holiday spending in the U.S., as millions of shoppers line up Friday morning to earn Black Friday doorbuster deals, followed by even more consumers shopping online the following
A brand-new pair of Xbox consoles launch next month, and retailers are currently sold out of preorders for both the Xbox Series X and Xbox Series S. The Series X and Series S release November 10 for $500 and $300, respectively, and as of now, it’s proving to be quite challenging to secure either.
Where to preorder the Xbox Series X and Series S
Xbox Series X and Series S preorders were sold out at all major retailers as of our last update. Xbox preorder listings went live at Target, Walmart, Microsoft, GameStop, and other stores on September 22 but sold out as fast as they appeared. You can check the main store listings below in case of availability. In a recent tweet, Xbox urged its followers to sign up with retailers for stock updates and said more consoles will be available on release day.
Preorder Xbox Series X:
Preorder Xbox Series S:
Xbox Series X/S bundles
Preorder Xbox Wireless Controllers
The new Xbox Wireless Controllers releasing alongside the Xbox Series X and Series S are available in Carbon Black, Robot White, and Shock Blue. They feature a more ergonomic design; textured grips on the bumpers, triggers, and back case; and an Elite controller-inspired hybrid D-pad for improved precision. The updated controllers also have a new integrated Share button for capturing and recording gameplay moments.