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Roth MKM tapped a 20-year e-commerce expert for insights into Amazon.com Inc’s AMZN growth trajectory ahead of the company’s 10th Prime Day event, July 16 and 17. The result: upside is expected in the second quarter .
What To Know: Moth MKM analyst Rohit Kulkarni detailed several takeaways from a recent conversation with an experienced e-commerce veteran in a new note to clients on Tuesday. The analyst maintained a Buy rating and price target of $210 after the e-commerce expert expressed optimism about Amazon’s Prime Day growth accelerating this year compared to 2023. U.
S. online sales during Amazon's Prime Day event last year climbed 6.1% year-over-year to $12.
7 billion. Amazon said Prime members bought more than 375 million items worldwide during the two-day event in 2023, making it the biggest Prime Day event ever. The e-commerce expert that spoke with Roth MKM expects Prime Day growth of 6% to 9% compared to 2023 and anticipates double-digit growth across nearly all categories in the second quarter on a year-over-year basis.
The source also expects these trends to continue into the second half of the year. Check This Out: Want To Buy Kindle During Amazon Prime Day 2024? Read This First One thing that could help drive higher sales is the broadening of Amazon ads. Amazon has started retargeting views toward shopping, which was a key driver of client ad spend growth in the second quarter, the e-commerce expert said.
Needham analyst Laura Martin al.