In Brief

Amazon’s annual Prime Day event is taking place June 23-26, the company announced on Tuesday. This year, the e-commerce giant is holding the deals event earlier than usual, as Prime Day is typically held in July.

“Members can save on top brands, trending products, and items exclusive to Amazon, plus fresh groceries, summer essentials, and back-to-school must-haves—all with fast, free delivery,” the company wrote in a blog post.

In the past, Prime Day was largely about scoring deals on indulgent items, but in recent years, shoppers have increasingly focused on essentials. Amazon told CNBC that groceries and household essentials will be a main focus of this year’s deals event.

The move makes sense, especially since data from the University of Michigan showed that U.S. consumer sentiment dropped in May to a record low as people navigate a difficult economy.

During last year’s Prime Day event, U.S. retailers saw $24.1 billion in online spend, representing 30.3% year-over-year growth.

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