This Year’s Prime Day Will Be an Important Test of Whether or Not Consumers Are Willing to Ignore the Pinch of Rising Prices and Spend in the Face of Four-decade-long Inflation Rates.

June 16, 2022 at 11:00 AM EDT

Amazon, the world’s largest online retailer, announced a two-day discount event for paying customers of its quick shipping and video streaming services on July 12 and 13.

For investors, Amazon’s (NASDAQ: AMZN) first quarterly loss in seven years is likely to be a cause for optimism, since the internet giant reported increasing inflation and supply-chain constraints as the main reasons for the deficit. Instead of the second quarter, the event will take place in the third quarter this year.

About $3.5 billion will be sold on Prime Day in 2021, according to Deutsche Bank analysts. In premarket trade on Thursday, Amazon AMZN +5.24 percent stock was down 2.79 percent from its year-to-date lows.

The post This Year’s Prime Day Will Be an Important Test of Whether or Not Consumers Are Willing to Ignore the Pinch of Rising Prices and Spend in the Face of Four-decade-long Inflation Rates. appeared first on Best Stocks.

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This Year’s Prime Day Will Be an Important Test of Whether or Not Consumers Are Willing to Ignore the Pinch of Rising Prices and Spend in the Face of Four-decade-long Inflation Rates.