Amazon Prime Day Sales Plunge 41%
Introduction
Amazon.com Inc's annual Prime Day summer sale took a big hit this year, with sales plunging 41% on the first day of the four-day event. The e-commerce giant expanded the sale to four days from two, hoping to entice more shoppers with a longer timeframe to take advantage of the millions of deals on offer on its website.
Current Scenario
Despite the extension, the first day of the sale saw a 41% decrease in sales compared to the first day of the two-day event in 2019. This could be due to various factors, including the current economic uncertainty and the ongoing COVID-19 pandemic. Additionally, the competition from other major retailers, such as Walmart and Target, who also offered their own competing sales events, may have contributed to the dip in sales for Amazon.
