Mar 14, 2024 - Business

Amazon announces new spring sale following strong holiday quarter

Illustration of an Amazon-shaped conveyor belt carrying boxes

Illustration: Annelise Capossela/Axios

Amazon will hold a 6-day sales event for U.S. customers from March 20-25, the company announced Thursday morning.

Why it matters: The retail giant has been increasing the frequency of its promotional periods as competition for online spending from the likes of Walmart and direct-to-consumer brands has grown.

  • In 2022, Amazon held two Prime Day-like sales events in the same year for the first time.
  • The company doubled up again last year — and its second event in October helped push year-over-year online stores sales growth to 9% in the fourth quarter, compared to a contraction in Q4 2022.

Zoom in: Unlike Prime Day sales, the upcoming "Big Spring Sale" is open to anyone, even customers who don't have a Prime membership.

  • The company says Prime members, who are some of Amazon's biggest spenders, will have "exclusive deals."

What we're watching: Amazon says prices for products across beauty, home, sports, outdoor and electronics may be discounted by up to 40% to 50%.

Our thought bubble: There's an expectation that consumer spending will slow down this year compared to last year, so companies like Amazon will likely ramp up incentivized shopping.

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