Amazon.com (AMZN) - Get Amazon.com, Inc. Report will be hosting a “Summer Sale” event in June in an effort to help kickstart sluggish sales among its sellers adversely impacted by the coronavirus pandemic, and as an offset to its popular but postponed Prime Day sales event.
Details haven't been finalized, but reports indicate it will begin on June 22 and run from a week to 10 days. Amazon is finalizing landing pages for the event and has asked sellers to submit deals for items with a discount of at least 30% by end of day Wednesday.
The move comes as Amazon continues to shift itself back to its core focus of being an online store for all goods - not just essentials. The coronavirus pandemic forced the company not only to shift its focus on fulfilling a surge in demand for essential orders but to forgo its one- and two-day delivery promise on many of its other offerings.
It also represents a shift in Amazon’s summer deals strategy. Amazon typically hosts its two-day summer sales event, Prime Day, in mid-July. However, recent reports have indicated the company is likely to postpone that event until at least September, or cancel it outright this year.
The sale should help retailers left in the lurch not only by a drop-off in demand but by Amazon's move away from its short-term delivery offerings during the pandemic, which prompted customers to turn to other retailers like Target (TGT) - Get Target Corporation Report and Walmart (WMT) - Get Walmart Inc. Report, which were able to fulfill orders and deliver goods faster, or offer curbside pickup.
The sale will likely help some Amazon retailers sell extra inventory that has accumulated over the past few months. In March, shoppers flooded Amazon’s website with orders for essential items like paper towels and hand sanitizer, which forced it to prioritize shipments of household and medical goods until mid-May.
Shares of Amazon were up 0.08% at $2474.44 in trading on Wednesday.