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Amazon Is Officially Delaying Prime Day

By Jennifer Saibil – Jul 21, 2020 at 9:43AM

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The shipping giant hasn't yet announced a new date.

Customers who have been waiting for Prime day to score great deals on Amazon.com (AMZN 2.55%) will have to wait a little bit longer. The online retail leader confirmed that Prime Day, which usually takes place mid-July, will be pushed off to a later date.

No day for deals

Amazon has seen extraordinary order growth throughout the pandemic as people stayed home and relied on the shipping master to provide their home essentials.

Two people shopping online.

Image source: Getty Images.

The company curtailed non-essential orders in April when the load became too great to bear amid logistical changes and new safety requirements for workers. Although non-essential orders have been reinstated, new lockdowns and a rise in coronavirus cases mean the situation may change for Amazon in the near future. That makes Prime Day, Amazon's annual two-day sales event, a challenge to pull off.

Looking toward the future

According to reports, Amazon told third-party sellers in an email that they should leave the week of Oct. 5 available for a potential Prime Day.

On top of the logistical and security details that prove difficult in the current environment, Amazon could lose out on sales because consumer spending around the country has declined during the pandemic. June's retail sales were better than May's, which were better than April's, but in most categories spending is still down year over year. Prime Day's chances for success are likely to be better in October, when the economy is expected to show greater signs of stability.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool has a disclosure policy.

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