Amazon.com, Inc AMZN will reportedly put to an end its “Treasure Truck” deals which gave customers deals-of-the-day via text message.
What Happened: The customers, who signed up for alerts, were informed by Amazon through text message that Tuesday’s Treasure Truck would be the last such deal, reported Axios.
“Treasure Truck was a unique way to bring customers exciting deals directly to their neighborhood,” said Amazon, according to Axios.
“We’ll continue to offer customers new deals every day on Amazon.com.”
Amazon did not immediately respond to Benzinga’s request for comment on the development.
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Why It Matters: The retirement of the Treasure Truck comes as tech companies double down on their core offerings and cut products, noted Axios.
Amazon CFO Brian Olsavsky said last week that the company would take actions to “tighten our belt” by pausing hiring and winding down products and services where it believes “resources are better spent elsewhere.”
The program worked by Amazon offering a single product as a “limited-time offer,” which was then offered through a fleet of more than 100 vehicles in multiple cities. In August 2020, the pandemic forced Amazon to take the program online, reported GeekWire.
Amazon missed out on third-quarter revenue estimates last week and on Tuesday the company’s shares plunged to a 52-week low of $96.51 eroding its trillion-dollar valuation.
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Image and article originally from www.benzinga.com. Read the original article here.