Amazon Sellers Hit By Portal Crash On Prime Day: Report
Portfolio Pulse from Anusuya Lahiri
Amazon.com Inc (NASDAQ:AMZN) experienced a significant disruption on Prime Day as its marketing portal for merchants crashed, affecting ad budget and keyword bid management. Despite the issue, sales increased nearly 12% in the first seven hours compared to last year. Adobe Inc (NASDAQ:ADBE) forecasts online sales to reach $14 billion over the two-day event, an 11% increase from last year.
July 17, 2024 | 1:34 pm
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Amazon's marketing portal crash on Prime Day disrupted ad management for sellers, but sales still increased by 12% in the first seven hours. The stock was down 1.25% at the open on Wednesday.
The crash of Amazon's marketing portal during Prime Day is a significant issue as it affects sellers' ability to manage ads, potentially impacting sales. However, the 12% increase in sales in the first seven hours shows resilience. The stock's initial drop reflects market concerns over the disruption.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Adobe forecasts that online sales across all retailers will reach $14 billion over the two-day Prime Day event, an 11% increase from last year.
Adobe's forecast of a significant increase in online sales during Prime Day is positive news for the company, indicating strong demand and potential growth in e-commerce analytics and services.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50