What we know so far about Amazon Prime Day

Amazon.com, Inc (NASDAQ: AMZN) said on Wednesday its Prime Day will start on 21^st June this year. The two-day sales event enables Prime members to benefit from discounts on a wide range of products from cosmetics to home décor and beyond. The announcement comes almost a week after Amazon confirmed that it will acquire MGM Studios for $8.45 billion (£5.96 billion).

Benefits before the Prime Day

From 7^th June to 20^th June, Prime members will get $10 in credit (up to a maximum of $50) for every $10 they spend on shopping online at Amazon. They can then buy stuff on Prime Day with the earned credits.

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During the same two weeks, members that shop with Amazon Prime credit card will also get a 10% rebate. Signing up for the Amazon Prime credit card gets you a $70 gift card. On top of that, you get a 5% cashback on whatever you buy from Amazon.

What does the Prime membership cost?

Prime membership – a prerequisite to participate in Amazon’s annual event is currently priced at $13 a month and comes with a 30-day free trial. Students, however, can get a six-month free trial, after which they pay only half the price per month ($7).

Products that will likely be on a discount

According to experts, a broad range of products, including television sets, smart home devices, tools, fashion and beauty products, and pet products, are likely to see deep discounts on the two-day sales event this year. Vipin Porwal of Smarty also expects sales and deals on health and wellness products to be the highlight of the upcoming Prime Day.

Products that will likely not be on a discount

On the other hand, Sara Skirboll of RetailMeNot says it is unlikely that competitive discounts will be offered on products like toys, gaming consoles, and cameras on Amazon’s annual event this year. People, she added, should wait for Black Friday for sizable discounts on such products.

A brief overview of AMZN

Amazon shares opened at $3,223 in the stock market on Wednesday and are currently exchanging hands around the same per-share price. This compares to a year-to-date high of £3,471 per share in the last week of April.

Amazon performed largely upbeat in the stock market last year with an annual gain of more than 70%. At the time of writing, the American multinational tech giant has a market cap of $1.62 trillion and a price to earnings ratio of 61.24.