Amazon.com (AMZN) - Get Amazon.com, Inc. Report is looking to get back to being the biggest, fastest and most lucrative e-tailer on the planet - and to make up for lost sales due to the postponement of its popular Prime Day.
The company is looking to host 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.
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 ordersbut to forgo its one- and two-day delivery promise on many of its offerings.
It's also a way to 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 Report and Walmart (WMT) - Get Report, which were able to fulfill orders and deliver goods faster, or offer curbside pickup.
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