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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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
NEGATIVE IMPACT
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