In a note Tuesday, analysts at JMP Securities told investors that Amazon's (NASDAQ:AMZN) Big Spring Sale event likely had little impact on the company's first-quarter numbers.
The firm, which maintained a Market Outperform rating and a $225 price
target on Amazon revealed that data suggests the event, relative to Prime Day, saw less of an impact and pointed to sales fatigue, a financially limited consumer, and low levels of awareness.
"Similarly, web and app data show the event did little to change existing trends," said analysts at JMP Securities. "We would not expect the first-ever extended sales event to have as meaningful of an impact as Prime Day."
Even so, they believe the event likely drove some incremental sales volume and throughput on AMZN's fulfillment network, which may support e-commerce numbers in a challenging consumer spending environment.
"Overall, AMZN may be finding it difficult to continue adding incremental sales events to its Prime Day and relatively new October Prime Big Deal Days," added the firm. "Lastly, it is unclear if the impetus for the event was a reaction to Temu and SHEIN's share gains in the U.S."