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| Amazon is planning two major business events this year |
Amazon plans to hold a second Prime Day-like shopping event for Prime members in the fourth quarter, the first time the company has hosted two such events in the same year.
Amazon is gearing up to hold its Prime Day event on July 12-13, a massive annual conference aimed at attracting new subscribers.
According to the company's letter to sellers, the new batch of sales is known as the Fall Sale. The company recently started reaching out to the event to select external retailers through its internal seller portal, Seller Central.
Amazon is asking sellers to offer special promotions for the event, known as lightning deals, by July 22, according to a post.
The deadline for another letter is September 2. For those using Amazon Fulfillment, they must ship by September 12th.
The exact date of the accident is still unclear. But guest vendors say it appears to be scheduled for October. The recommendation urges sellers to submit fast, time-limited bids by July 22, prior to the Q4 event.
The announcement also states that Fall Prime deals are an exclusive Prime-buying event that will be available in the fourth quarter.
Participating sellers must offer discounts of at least 20% off current prices to be eligible for the Fall Prime offer.
A letter said all promotions must meet or exceed the lowest price since January 1, 2022. All products must be rated at least three stars.
New sales in the fall could give Amazon a much-needed sales boost as the company grapples with weak customer demand after two years of massive pandemic-driven growth.
Amazon is trying to increase sales and attract new members
The company's April sales recorded the lowest quarterly sales growth since the dotcom bubble burst in 2001.
Additional products sold during the event can also help companies take advantage of empty storage space after overestimating demand and building too many storage facilities.
The campaign could also help retailers dump some of the extra inventory they've collected as inflation weighs down shoppers, and redirect spending to areas like travel and entertainment.
The event takes place independently of the Prime Day event, which took place in July this year. But sales of televisions, sneakers and other merchandise are expected to be strong at both events, according to guest sellers.
Analysts are concerned that Prime Day's business has lost some of the momentum it once had. They cited slower sales growth, fewer orders and quieter promotions at Amazon.
Analysts expect this year's Prime Day event to bring in $8.1 billion in merchandise, just like last summer's event.
Amazon is increasingly looking beyond Prime Day to lure shoppers with deals focused on specific categories.
In October last year, the company held its first beauty products event. The goal is to attract customers before the Christmas shopping season.