Amazon Prime Day Could Help Rivals Like Chewy, eBay, Peloton – Amazon.com (NASDAQ:AMZN)

Amazon.com Inc‘S AMZN The 10th annual Prime Day will take place July 16-17. It will span 24 countries, with India hosting a Prime event later this summer. The 48-hour event will feature millions of deals across 35+ product categories.

JPMorgan analyst Doug Anmuth forecasts total GMV of $12.4 billion (+12% y/y) and total retail net sales of $7.9 billion (+11% y/y), with $5.8 billion of those net sales being growth, representing a 13% increase y/y.

Also read: Amazon Prime Day 2024: Innovations to overcome economic challenges and boost sales

Amazon Prime Day domino effect

According to Anmuth, Prime Day promotions have a significant impact that goes beyond the Seattle giant. The two-day event often boosts activity for other e-commerce companies and multichannel retailers.

“Key companies we are watching” include: Chewy Inc CHWY, eBay Inc EBAYAND Peloton Interactive Inc PTONAnmuth wrote.

• Chewing:The recent 3rd Annual Amazon Pet Day event, which took place on May 7-8 in the US, featured deals on pet treats, food, grooming products, household and travel items, electronics, toys and clothing. Amazon has traditionally offered strong promotions in the pet category during Prime Day, including its 1P brands. Chewy remained competitive with its Prime Day pet deals and is expected to continue that trend.
• eBay: While eBay hasn’t announced any major promotional events for Prime Day, the company recently celebrated its first annual Recommerce Day on May 21, promoting deals on used items. The e-commerce market is likely to see a surge in activity around Prime Day, potentially benefiting eBay.
• The peloton: Amazon is offering up to 30% off select Peloton products during Prime Day 2024, similar to previous promotional campaigns. This is expected to drive increased activity for Peloton.

Other retailers are also hosting competitive sales events around Prime Day. These include: Walmart Inc‘S WMT Walmart+ Week (June 17-23) and Walmart Deals (July 8-11), Target Corp‘S TGT Circle Week (July 7-13) and Macy’s M Star Week (July 16–23).

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