US Market News

Amazon Prime Day is coming up: Here’s why deal experts say you might want to skip it this year

In this article

As Amazon gears up for Prime Day on July 12 and 13, shoppers may be less enthusiastic this year about the big annual sale.

“The explosive sort of growth year over year that we’ve seen with Prime Day, we may not see that any longer,” said Nathan Burrow, senior deals editor at Wirecutter.

For starters, soaring inflation has led to higher prices across the board, causing consumers to cut back on spending and become more wary of the kind of impulse shopping those intermittent “Lightning Deals” are designed to encourage.

More from Personal Finance:
Here are 3 ways to deal with inflation
What people expect to spend more on as inflation surges
58% of Americans are living paycheck to paycheck

In addition, as more competitors step up, Prime Day could lose its stranglehold on one of the most anticipated shopping events of the year.

Prime Day prices may not be Amazon’s best-ever offer

Just because something is discounted on Prime Day doesn’t mean it’s the best deal you’ll see anywhere, or even all year.

Naturally, Amazon will offer the best prices on its own gear like the Kindle, Fire TV streamer and private-label clothing. For example, the e-commerce giant is already advertising a 24-inch Fire TV for only $90, nearly half the retail price, while other early deals include up to 55% off the second-generation Echo Show, Kindle Paperwhite and Eero Mesh Wi-Fi routers.

Keep in mind that some items will be reduced further down the road. Prices on mattresses and outdoor furniture are likely to be lower around Labor Day, toys get marked down the most on Black Friday and Cyber Monday, and TVs generally hit their lowest price point ahead of Super Bowl Sunday.

Even Amazon is looking beyond its own Prime Day with a second sales event now slated for the fall.

Competing sale events are upping the ante

Other bargains are not exclusive to Amazon at all. WalmartTarget and Best Buy, among others, are holding competing deals events — as they have in previous years — to coincide with Amazon Prime Day 2022.

This time, Target’s 72-hour “Deal Days” kicks off earlier and runs for longer, starting on July 11, one day ahead of Prime Day. Plus, Target will price match select Prime Day deals and take an additional 5% off for RedCard members.

“Every year, they become a little bit more competitive,” Burrow said.

Also expect to find equally worthwhile deals at Walmart on kitchen appliances, vacuums and Nintendo Switch accessories, he said, and count on Best Buy to compete on electronics and Apple devices.

Meanwhile, other retailers, including Bed, Bath & Beyond, Kohl’s, Overstock, Samsung and Saks Fifth Avenue, will offer their own major markdowns, according to Rakuten’s retail and shopping expert Kristen Gall. 

How to make sure you’re getting the best deals

To find the lowest prices overall, start crunching the numbers now, advised Kristin McGrath, a shopping expert at RetailMeNot.

Price trackers are the easiest way to monitor just how good a deal really is, especially for big-ticket items.
Kristin McGrath
shopping expert at RetailMeNot

McGrath recommends a price-tracking browser extension like Camelcamelcamel or Keepa to keep an eye on price changes and get price-drop alerts. “Price trackers are the easiest way to monitor just how good a deal really is, especially for big-ticket items,” she said.

At some retailers, you can even stack deals by using a promo code or digital coupon and then pay with a rewards credit card for extra savings, said Rakuten’s Gall.

Subscribe to CNBC on YouTube.

This post has been syndicated from a third-party source. View the original article here.

Related Articles

Back to top button