It’s Amazon vs. Walmart.
| Amazon’s Prime Day sales event this year will stretch from July 8 through 11 and be available across 26 countries (its widest reach to date), but the real action isn’t actually the sales generated — it’s the out-and-out loyalty elicited from those lucrative Prime subscribers. Early forecasts are bullish: Adobe Analytics expects the event to generate a record $23.8 billion in US sales.JPMorgan estimates Amazon could hit 350 million global Prime members by the end of this year, up from 200 million in 2021, and Bank of America forecasts this week’s event will drive 10% year-over-year growth for the company. That said, there’s some real competition this year. Overlapping with the festivities is the “Walmart Deals” sale, which runs from July 8 to 13. For the first time, Amazon has extended its Prime Day(s) sale from two to four days — a change Walmart answered by stretching its own event from four days to six. But analysts indicate Prime Day’s importance stretches beyond the four-day event. The sale is expected to give Amazon an early boost on back-to-school and college shopping, helping it lock in spending before the busier fall shopping season kicks off. |
| THE TAKEAWAY It’s Amazon vs. Walmart. The winner? Maybe bargain-hunting consumers. The losers? Any non-billion-dollar online stores trying to sell stuff over the next week. |
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