Amazon will hold a six-daysales event for U.S. customers on March 20–25, the company announced this week, Hope writes.
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%–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.
