On Monday and Tuesday July 15 and 16, Amazon will be conducting its Prime Day. Historically, this has been one of the largest sales on Amazon production during the calendar year. Prime Day sales are as large if not larger than Christmas sales and generally Amazon stock price gets a boost into this period. Sales of electronics are the most popular items generating significant revenue for Amazon.
Who Else is in the Sale Game This Summer?
Amazon is not the only game in town. Some of Amazons largest competitors have entered the sales game during the summer to compete directly with the worlds largest retail giant. Walmart came to play this week. The super store is poised to embark on four days of sales , and to compete directly with Amazon there is no membership included. To be eligible for the Prime Sale on Amazon you have to be a Prime member. Prime membership costs $119 per year. This provides you with prime delivery which in many places is next day delivery. It also provides customers with access to Amazon Prime Videos, which is a service that shows movies TV shows and Amazon original content. The Summer Savings Sale, that Wal-Mart launched started Sunday, July 13 and runs through July 17. Also included in the sale is free, two-day shipping if you spend more than $35.
Amazon is Ready to Rumble
As Amazon gears up for Prime Day, some Amazon employees are bracing for a long two days. This does not include the backlog of products that will need to be quickly shipped to customers throughout the globe. Press reports show that workers in Amazon’s fulfillment centers have taken to a private Facebook Group with nearly 18,000 members to let off steam and express frustration with Amazon policies surrounding the consumer holiday. While Prime customers will benefit from the robust sales offered by the company, employees will take it on the chin.
Workers Experience Difficult Conditions
Some of the employees say that this will be two months of hell for us no matter what, especially since Amazon will be offering 1-day shipping. The sentiments from the group provide a window into the lives of workers at Amazon’s who will be under the gun during this period. The fulfillment centers have come under scrutiny in recent years. Recent reports have found that Amazon employees face extreme pressure to meet company goals, which is to keep the customer happy at all costs. Several members posted stories about a planned Prime Day worker strike at a Minnesota warehouse, as management has been slow to fix mechanical problems leading to slowdowns and accidents.
Amazon stock price have broken out ahead of Prime Day making all-time highs during the first week of July and trading above $2,000 per share. You can trade Amazon shares on iFOREX. The company is scheduled to release its financial results on July 25, 2019. The company is expected to show earnings per share of $5.28 compared to $5.07 per share one year ago.