- Amazon is planning to hold a “Prime Fall deal event” in the fourth quarter, according to a notice viewed by CNBC.
- The company recently notified third-party merchants about the event.
- Amazon is increasingly looking beyond Prime Day to drum up sales and attract new members to its discount club.
Amazon plans to hold a second shopping event for Prime members this year, in the fourth quarter, according to a notice viewed by CNBC. It will be the first time Amazon will hold two shopping events exclusively for Prime members in the same year, and comes as the company is gearing up for for Prime Day, its big annual sale designed to attract new Prime subscribers, which is happening July 12 and 13.
The company recently began notifying select third-party merchants of a “Prime Fall deal event” via its internal seller portal, called Seller Central. The notice doesn’t name a date for the event, but it instructs sellers to submit limited-time “lightning deals” by July 22nd, well in advance of the fourth-quarter event.
“The Prime Fall deal event is a prime-exclusive shopping event coming in Q4,” the notice states. “Submit recommended Lightning Deals for this event for a chance to have your deal selected!”
The fall event could help drum up additional sales for Amazon, which booked the slowest revenue growth for any quarter since the dot-com bust in 2001 in its latest earnings report. It could also help retailers clear out some of the extra inventory they’ve accumulated, as inflation squeezes shoppers, and they shift their spending to areas like travel and entertainment.
Analysts have voiced concerns that Prime Day has lost some of the momentum it once had, pointing to slowing sales growth, smaller order sizes and more muted promotion on Amazon’s website. Jefferies analysts on Monday predicted Prime Day will contribute $8.1 billion in gross merchandise volume this year, which is “consistent with the Summer event last year.”
Amazon has increasingly looked beyond Prime Day to hook shoppers, launching new deal events focused on specific categories. The company last October held its first beauty products event, and in May it held an “Amazon Pet Day” discount event.
An Amazon spokesperson declined to comment on the event, which was previously reported by Business Insider.
WATCH: If you have a longer time horizon, I’m extremely bullish on Amazon, says Zillow co-founder