Whatever anyone thinks of Jeff Bezos, he is a clever so-and-so.
Not only did his company, Amazon, manage to become a household name in absolutely every area of modern life in the way that Google did for internet search, but he has also created an international calendar date that places the company in the same category as traditions such as Independence Day or Thanksgiving and the ensuing consumer-driven Black Friday.
The whole world's population uses the word Google as a replacement for the word 'search', in that people say 'I'll Google it' rather than 'I'll search for it', therefore it is perhaps interesting to consider how long it will be before such a banal sentence as 'let's Amazon it' rolls off the tongue without hesitation or question when looking to purchase any item at all from weekly food shopping to office furniture.
It's certainly going that way, however with the 'Amazon Prime Day', Mr Bezos has out-Googled Google in the big-tech quest for internet marketplace dominance by creating an international day in the name of his company's e-commerce division.
Following the format of Black Friday, which began in the United States and has now become an annual tradition globally, Amazon Prime Day is the online equivalent of the discount-fuelled retail bonanza that results in empty ATMs and massive lines in malls across the world.
Amazon Prime Day is that, but without the traffic jams.
It provides members-only access to special deals for Amazon Prime customers, and typically occurs each summer on the second Tuesday in July, having begun in 2015.
There have been unique special promotions each year since, for example in 2017 starting late July 10th and extending through July 11th for a total of 30 hours, and again in 2018 which lasted 36 hours.
In 2019, Amazon launched its first ever 48-hour event from July 15-16. Even with minor glitches, its huge success made it Amazon's biggest shopping event in company history prior to Cyber Monday.
Not really a 'day', is it Jeff?
If Amazon's definition of a day equals 48 hours, does this mean that an annual Amazon Prime subscription lasts three years? No, didn't think so...
Regardless of the artistic license, this annual bonanza is as important to Amazon as it is high profile, and Amazon shares rallied 4.19% to close at $3,486.9 per share last week at a time during which Facebook and Google dropped, with Facebook falling 0.48% and closed at $329.66 per share and Google having been the worst performer during the week, falling 1.15% by close of business on Friday.
OTT platform Netflix has been stagnant so far this year, however, during the previous week, the stock soared 2.46% to close trading at $500.77 per share, however it will be interesting to see the results this week as the most watched television presenter in the world, Jeremy Clarkson, released his Clarkson's Farm series on Amazon Prime last week, resulting in a tremendous 'watchathon' by his fanbase which consists of an incredible 300 million people worldwide.
So not only is Amazon boosting itself by hitting the retail sector with its annual ‘day’, but is bashing Netflix too and the share prices show it clearly.
Amazon Prime positioned the Clarkson’s Farm series so that all eight episodes could be watched one after the other, which would likely increase its audience for a week. It was a huge success online, having received a 5-star Google rating and caused many non-Amazon Prime members to sign up purely to watch the antics of the affable and amusing Jeremy Clarkson.
This was a perfect time to release the show, as it runs nicely up to Amazon Prime Day.
Share prices are now at a high point when looking at the 5-day chart whilst investors anticipate performance after the Amazon Prime Day, which is only a Day in marketing terms and is more likely to be two or three days.