Cowen expects U.S. e-commerce to rise 48 percent. John Blackledge, U.S. internet analyst at Cowen, joins 'Squawk Alley' to discuss the new outlook and how much Amazon Prime Day costs Amazon. Subscribe to CNBC PRO for access to investor and analyst insights on Amazon and more: https://cnb.cx/3dIH56N
Even as consumer spending has slowed amid the coronavirus crisis, e-commerce sales are soaring — largely thanks to Amazon.
Prime Day, which was originally slated for July but postponed due to the pandemic, is turning into one of the biggest shopping events of the year. The 48-hour sales event runs through Wednesday, Oct. 14.
Over the course of two days, more than 1 million items will be discounted, according to the retail giant, including intermittent “Lightning Deals,” for Prime members.
“There is always one thing everybody goes for,” said Julie Ramhold, a consumer analyst at DealNews.com, of the two-day shopping event.
Last year, it was the Amazon coat, Crest Whitestrips and 23andMe. This year, it will likely be geared toward people staying in, she said. “I wouldn’t be surprised if it was a fire pit.”
Other top contenders include iRobot Roomba or Shark vacuums and the always popular Instant Pot.
Sara Skirboll, a shopping and trends expert at RetailMeNot, said she is betting on smart home devices, televisions, laptops, hand tools and appliances.
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Even as consumer spending has slowed amid the coronavirus crisis, e-commerce sales are soaring — largely thanks to Amazon.
Prime Day, which was originally slated for July but postponed due to the pandemic, is turning into one of the biggest shopping events of the year. The 48-hour sales event runs through Wednesday, Oct. 14.
Over the course of two days, more than 1 million items will be discounted, according to the retail giant, including intermittent “Lightning Deals,” for Prime members.
“There is always one thing everybody goes for,” said Julie Ramhold, a consumer analyst at DealNews.com, of the two-day shopping event.
Last year, it was the Amazon coat, Crest Whitestrips and 23andMe. This year, it will likely be geared toward people staying in, she said. “I wouldn’t be surprised if it was a fire pit.”
Other top contenders include iRobot Roomba or Shark vacuums and the always popular Instant Pot.
Sara Skirboll, a shopping and trends expert at RetailMeNot, said she is betting on smart home devices, televisions, laptops, hand tools and appliances.
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast
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