Amazon’s “Prime Big Deal Days” set Amazon’s “Prime Big Deal Days” set for October 10-11 amid advice to wait for better dealsfor October 10-11 amid advice to wait for better dealAmazon (NASDAQ:AMZN) is gearing up for its second Prime Day event of the year, dubbed “Prime Big Deal Days,” slated for October 10-11, echoing a similar dual-event approach adopted in 2023. Yet, a number of industry specialists are guiding consumers to be prudent and potentially hold off for future sales events to secure superior deals.
Katie Roberts from DealNews.com, Kristin McGrath from BlackFriday.com, and Nicole Leinbach from the Independent Retailer Conference have all suggested waiting until Black Friday or Cyber Monday for better deals on new smartphones, especially iPhones. They recommend postponing purchases of Amazon Fire TV products, toys like Lego, and gaming consoles such as Sony (NYSE:SONY) PlayStation 5 and Nintendo Switch (NYSE:SWCH).
Budgeting expert Andrea Woroch and consumer consultant Melissa Cid have also advised consumers to delay clothing and electronics purchases. They spotlighted Walmart (NYSE:WMT) as a possible source for iPhone deals during the Black Friday sales event.
Amazon devices, on the other hand, are anticipated to offer the most attractive deals during Prime Day. Although consumers may be drawn to Amazon’s “lightning deals,” they are cautioned against impulsive buying. The article also referenced Taylor Swift in connection with furniture shopping, but it did not elaborate further on this topic.
In the backdrop of this upcoming Prime Day event is a trend initiated last year when Amazon rolled out a dual-event strategy for its annual sales bonanza. With the holiday season on the horizon, consumers are urged to thoughtfully consider their purchasing decisions to ensure they lock in the best possible deals.
Amazon’s market capitalization stands at a staggering 1300.0B USD, with a P/E ratio of 99.88. The company has shown strong performance in recent times, boasting a revenue growth of 10.73% LTM2023.Q2 and a gross profit of 244.97B USD LTM2023.Q2. The firm’s EBITDA growth is also impressive at 18.89% LTM2023.Q2.
Amazon’s revenue growth has been accelerating and the company is expected to be profitable this year. The company also operates with a moderate level of debt. However, Amazon is trading at a high earnings multiple and a high P/E ratio relative to near-term earnings growth, which could be a concern for some investors. It’s worth noting that Amazon has experienced a large price uptick over the last six months, and has delivered a high return over the last decade.
