Amazon Confirms Prime Day Coming Oct. 13, To Focus On 'Small Businesses'

Amazon.com, Inc AMZN announced Monday that its pandemic-delayed summer sale event, Prime Day, would be held on Oct. 13-14.

What Happened: The two-day sale will begin at midnight PT on Oct. 13 and run through the following day for prime members in countries such as the United States, Canada, China, the United Kingdom, Italy, Japan, and Australia, the company said in a statement.

Turkey and Brazil will participate for the first time in the event, Amazon said.

The Jeff Bezos-led company added it's offering a $10 credit to members for use on Prime Day provided they spend the same amount on items sold by select small businesses on its store.

Jeff Wilke, Amazon CEO Worldwide Consumer, claimed the e-commerce giant was “committed” to making Prime Day “most successful” for small businesses. 

The e-commerce giant noted it would offer a curated collection to customers from its small retailers.

Why It Matters: Amazon said it is investing an additional $100 million in the Prime Day and other holiday promotional programs.

The timing of Prime Day may usher in the holiday shopping frenzy earlier this year, which typically starts on Black Friday, the day after Thanksgiving, according to CNBC.

Apple Inc AAPL is likely to launch its iPhone 12 models on Oct. 12, which would coincide with Amazon’s sale event.

Prime Day, originally scheduled for mid-July, was delayed due to the COVID-19 pandemic, which cast excessive pressure on the retailer’s supply infrastructure as consumers turned to it for daily needs.

Price Action: Amazon shares closed nearly 2.5% higher at $3,095.13 on Friday and fell 0.25% in the after-hours session.