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Online retailer Amazon’s annual Prime Day shopping extravaganza starts at midnight U.S. Eastern Oct. 13 and sales are expected to exceed those of last year’s Black Friday and Cyber Monday combined.
The Seattle tech provider and online retailer’s event, which runs two full days, could net $9.9 billion in total sales, eMarketer estimates.
That figure is more than 38% above last year’s Prime Day. Amazon doesn’t release sales figures for the event, but researchers pegged last year’s sales at roughly $7.16 billion.
J.P. Morgan analyst Doug Anmuth more conservatively estimates Amazon will take in $7.5 billion of revenue from the event this year, up 42% from an estimated $5.3 billion in 2019.
“The biggest difference this year is that Prime Day is running three months later than its typical mid-July timing. [And] as such Amazon is promoting the event as an early start to holiday shopping vs. Prime Day’s typical
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By Nikhil Nainan
BENGALURU, India (Reuters) – Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed.
Asian firms’ outlook for the next six months tracked by the Thomson Reuters/INSEAD Asian Business Sentiment Index <.TRIABS> <RACSI> jumped to 53 in the third quarter from an 11-year low of 35 in the second, according to the survey of 103 companies across 11 Asia-Pacific countries.
It was also higher than the 50-point mark, which indicates a positive outlook.
The survey comes as the easing of coronavirus restrictions across Asia has reduced pressure on hard-hit economies, though the experience has varied across the region, with some still in recession and others, like China, seeing a steady recovery.
More than two-thirds of the companies polled said they saw the pandemic, or a