Amazon (AMZN) - Get Amazon.com, Inc. Report is planning on 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 the 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.
Is this the Death Star’s defining move to finish off small businesses who have struggled to compete?
Jim Cramer says that Amazon has dug the grave for small businesses. And that the declaration of non-essential businesses was "dumb."
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