Amazon just announced the dates for a four-day long Prime Day shopping sales event that it promises will feature a broad range of discounts. The shopping extravaganza will be closely watched by Amazon stock analysts as an indicator for consumer spending following months of uncertainty from tariffs.
The e-commerce giant's 11th Prime Day will kick off July 8 and run through July 11. Amazon is promising its Prime members "double the time to shop millions of deals," the company said in a blog post Tuesday.
Along with doubling the length of the sales event, Amazon said it will offer a new "Today's Big Deals" feature with fresh discounts each day, with brands such as Samsung, Kiehl's and Levi's participating. NBA superstar LeBron James is participating in a TV ad to promote the event.
Amazon stock is down a fraction at 214.80 in recent premarket trading on the stock market today. Shares gained 1.9% Monday.
Amazon Prime Day Expectations For 2025
Last year, U.S. shoppers spent an estimated $14.2 billion across e-commerce platforms during the two-day Prime Day event, according to estimates from Adobe Analytics. Amazon called last year's Prime Day a "record-breaking" Prime day, with more than 200 million items sold by independent sellers that offer their goods through Amazon Marketplace.
Rival retailers Walmart and Target typically launch sales campaigns the same month to match Amazon.
With concerns about tariffs raising prices overall, shoppers appear anxious for deals. More than 80% of Amazon Prime members surveyed in early May said they expected to shop on Amazon during Prime Day, up from 68% in 2024, according to research firm Tinuiti.
Chief Executive Andy Jassy said at Amazon's recent annual shareholder meeting that the company had not seen an increase in average selling price across the platform in response to tariffs. He said he also has not seen any "attenuation," or slowing, of consumer demand despite the uncertainty.
Amazon Stock Recent Breakout
Meanwhile, Amazon was the IBD Stock of the Day last week. Shares broke out above a 214.84 cup-with-handle buy point on June 9. That entry represents a return to a three-month high Amazon reached on May 13. Amazon stock has hovered near a 5% buy zone in trading since then.
Overall, Amazon stock is down about 1.5% year-to-date. Shares tumbled following the April 2 "Liberation Day," when President Donald Trump announced his broad tariff plan. But shares have bounced back as those tariffs have been reduced or paused. Amazon rocketed 8% on May 12, when the 145% tariffs on Chinese goods were lowered to 30% though a temporary deal between the U.S. and China.
Meanwhile, Amazon's first-quarter results beat expectations for earnings and sales. But the stock fell following the May 1 report because the tech giant offered a mixed outlook for the current June-ending quarter. Amazon's cloud business also recorded March-quarter revenue slightly below Wall Street expectations.
The IBD Stock Checkup tool shows Amazon stock holds an IBD Composite Rating of 94 out of a best-possible 99. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
