Amazon’s Prime Day, starting on Tuesday, will serve as a “litmus test” for U.S. shoppers’ spending power, Reuters reports. The sales event is going live earlier than usual and is centered around household basics, back-to-school needs, and perishable groceries instead of discretionary splurges. William Stern, CEO at small business lender Cardiff, said people do not have the money right now, so Prime Day is not about buying big TVs or fun stuff but about buying toilet paper and garbage bags on sale. Amazon has highlighted deals on household goods, groceries, travel, and school items, with fresh food and essentials becoming a significant part of Prime members’ baskets.
Amazon.com IncPrime Day serves as a litmus test for consumer spending; early focus on essentials suggests cautious spending, but outcome is uncertain.