Amazon’s shifting Prime location | Financial Times

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A stainless steel water bottle with a straw lid, a portable balloon pump machine, a clay modeling kit and a women’s sports bra are now in trend as the UK’s most popular sale items, with the start of Amazon’s annual Prime Day event.

What they all have in common is a price below £ 20, and this straw-covered survey indicates that shoppers are tightening their belts, as the cost of living is skyrocketing, and are not so interested in “big ticket” items.

But then, this year’s prime day is harder to read than others in assessing the state of e-commerce. We have had distortions of excessive purchase in the plague, supply chain problems and now the rising inflation that has put pressure on household budgets. Research firm Insider Intelligence suggests that sales may climb during the two-day event to about $ 7.76 billion in the US, up 17% from last year, but that will help by changing the date from mid-July and more consumers going back to school shopping.

In addition to promotion, Prime Day is a big advertisement for the benefits of Prime companies at a time when consumers are considering downsizing their subscriptions to save money. Amazon had about 172 million prime members in the half year, but that was fixed six months earlier. The company did itself no favors in February when it raised U.S. prices to $ 139 from $ 119 a year and $ 14.99 from $ 12.99 a monthly subscription.

Reports Dave Lee in San Francisco Amazon shares have fallen more than 30% this year and overall revenue growth has slowed to the lowest rate in two decades. In the last quarter reported, sales in the company’s online store fell, year on year, by 3.4%.

“I’m betting on [Prime Day sales] Lower than expected, “said Guru Hariharn, a former Amazon executive and now CEO of e-commerce management software CommerceIQ. “And that would indicate lower consumer sentiment. So that would give a bell to overall retail, and in exchange for a bell for the whole economy. That’s the spearhead.”

The current uncertainty means that Amazon laid the groundwork for what may be a second event similar to Prime Day in the fourth quarter – the first time two will be held that year. Consumers tend to like two-on-one deals, but a second event suggests that Amazon is desperately looking for solutions to slow down its sales.

The Internet of (five) things

1. Twitter attacks Musk’s retreat
Twitter Hit back In an attempt by Elon Musk to stay away from the $ 44 billion acquisition of the social media company, he called it “wrong and wrong” and accused him of violating the merger agreement, according to a letter sent to the billionaire’s lawyers. Says Lex Twitter’s ambitious goal of increasing annual revenue to $ 7.5 billion and reaching 315 million daily users by the end of 2023 – a growth of about 50% from 2021 levels – seems less realistic from day to day.

2. Pluto stops domestic bicycle production
A cashless platoon is Completion of self-production Of the fitness bikes that have won the fitness company connected to a fanatical crowd of followers, in a recent strategic rethinking to keep up with the sharp turnaround in financial fortune. The New York-based group said it would shut down operations at Tonic Fitness Technology, the Taiwanese manufacturing facility it acquired for about $ 45 million, less than three years ago.

3. Indian tycoons are fighting for 5G
Gautam Adani’s Adani Data Networks became the first to make bids at the upcoming 5G Spectrum auction in India, marking its entry into the sector in which it will bid Go head to head Against fellow tycoon Mukesh Ambani. India’s telecommunications department said the other bidders were Ambani’s Jio, Vodafone Idea and Bharti Airtel, survivors of a data pricing war launched by Jio when it entered the fast-growing market in 2016.

4. Spotify buys Hardel
Spotify has Acquired a Trivia Music Game Heardle. In a post published on Tuesday, Spotify described the game – which was launched earlier this year against the backdrop of Wordle’s rising popularity – as a “tool for musical discovery”. The game gives players six opportunities each day to spot a different song based on short audio clips.

5. Netflix coming soon to a movie theater near you
“I think you’ll see that Netflix is ​​going to start incorporating much larger theatrical windows in some of their big projects every year because they see the immense value in the impression of pop culture that it does,” said Joe Russo, co-director of the latest streaming service action thriller The Gray Man, Says Chris Grimes.

Technical tools – Nokia’s latest line-up

HMD Global, the exclusive licensee of the Nokia brand, today announced a new tablet and three phones with features that maintain its reputation for durability and affordability. The 8-inch Tablet T10 Can be an entertainment and communication device as well as having a second screen function to expand the display of your PC or laptop. It will be available in the UK starting in August, starting at £ 129 for the 32GB version. The non-smartphones are the 8210 4G, 5710 XpressAudio and 2660 Flip, available at the end of July for £ 64.99, £ 74.99 and £ 64.99 respectively. The 8210 It is back to the original 1999 model, but with a large 2.8-inch display and weeks of battery life on hold. The 5710 There are dedicated audio control keys and headphones located in the slider on the back of the phone. The 2660 Opens and has a large display, large buttons and long battery life. It has a special charging cradle as an accessory of £ 20.

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Amazon’s shifting Prime location | Financial Times Source link Amazon’s shifting Prime location | Financial Times

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