Jim Cramer: What Amazon Prime Day 2020 Says About Consumer

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And just like that Amazon Prime Day 2020 is underway. 

While he said he's still waiting to see a deal that interests him, Jim Cramer said the annual shopping holiday is a tell on how the consumer is faring amid the coronavirus pandemic and the shift to online shopping. 

The event, which is typically held in July, was postponed, partially due to supply chain concerns and product availability, and now marks an unofficial start to the holiday shopping season. 

eMarketer estimates that 2020 Prime Day could bring in as much as $9.9 billion, which would mark a 38% increase from the prior year. 

Highlighting the shopping holiday this year, is a focus on small businesses. Amazon said it would spend an additional $100 million on promotions to extend the reach of businesses impacted by the pandemic. 

"In the midst of an unprecedented year, we’re committed to making this the most successful Prime Day ever for our small businesses and excited for Prime members worldwide to discover new ways to support local entrepreneurs and save big on everything they need and love,” Jeff Wilke, Amazon's CEO for worldwide consumer, said in a statement back when Prime Day was rescheduled. 

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