Prime Day, Amazon's annual e-commerce extravaganza, will be postponed at least until August,according toReuters. Additionally, Reuters reports, Amazon expects to lost $100 million from excess devices it will likely have to sell at a discount. Amazon did not respond to a request for comment.
Amazon launched Prime Day in 2015 to drive sales during the relatively slow summer months. Last year, Amazon held Prime Day for 48 hours in mid-July, withsalessurpassing Black Friday and Cyber Monday combined.
The midsummer sales event has becomea key wayfor Amazon to recruit new members to its Prime subscription program. It also gives Amazon a way to promote sales of its Echo devices -- bringing more customers into the Alexa-enabled smart home ecosystem.
Meanwhile, Amazon Prime has become a large enough event that it's influenced the retail industry. Last year,other retailers launched their own sales promotionsto compete with Prime Day, with the largest retailers walking away withsignificant sales bumps.
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