Amazon Is Delaying Its Summer ‘Prime Day’ Promotion: Reuters

(Bloomberg) -- Amazon.com Inc. will delay its July “Prime Day” sales event at least until August, according to a report from Reuters.

The promotion began in 2015 as a way to drum up business during the summer when many people are on vacation and to entice customers to subscribe to Prime before the busy holiday shopping season. Amazon Prime members, who pay monthly or yearly fees for shipping discounts and other perks, spend more on the site than regular shoppers.

The company could also lose as much as $100 million on surplus devices it may have to sell at a discount, the news service said, citing internal documents.

Amazon didn’t immediately respond to a request for comment.

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