Amazon announced that its Prime Day Sale will take place on July 11th and 12th.
The sale is generating a lot of buzz, as it has in previous years. According to NerdWallet 2022’s analysis, Prime Day prices are comparable to Black Friday.
Claire Tassin is a lead retail analyst and an e-commerce expert at Morning Consult. The company provides global market data and research. Summer sales are a long-standing tradition for retailers as they clear summer stock and prepare for the fall and holidays. But “Amazon sets the calendar now,” Tassin says.
According to Adobe Analytics, last year shoppers spent $11.9 billion in a two-day Prime Event.
It’s a mystery which products or categories will receive the biggest discounts during this year’s sales. Adobe Analytics reports that last year the largest discounts for products were toys (15%), apparel (12%) and electronics (6%)
Get ahead with your shopping and make the most out of this year’s sale.
Prime Day Sales Tips
You can create your own shopping strategy between Prime Day and the start of the summer sale.
Create a list of items to buy and determine your budget
Create a wish list for the things that you would like to give your family and friends this holiday season. You can now check your holiday budget and decide how much you want to spend for each individual.
Tassin says that Prime Day also serves as a great opportunity for parents to stock up on school supplies. Take stock of the supplies your children will need to start the new school year, such as new shoes, backpacks, and markers. Then, you can take advantage of the sale.
You can avoid getting caught in the hype by taking the time to evaluate what you have. This will save you both money and the trouble of returning items.
Add items to your shopping cart and purchase them on Prime Day
You can’t tell if something is a great deal without doing some research beforehand. You can add items to your wish list, or even to your cart to gauge the price. Then check back every couple of days to determine if it has changed. Set alerts to notify you when items in your shopping list go on sale.
Use camelcamelcamel to track the price of products on Amazon. It is a completely free service. Create price drop alerts and be informed via email when a price drops below a specific point. PayPal Honey is also available on Amazon. You can use it to see the history of the prices for a particular product on Amazon as you browse the website.
Shop Now to Get the Style and Model You Want
Prime Day allows you to avoid some issues you may encounter during Black Friday. For example, you might not be able to find the item you are looking for in the style or color you prefer, or the retailer will stop carrying it so they can make way for new models. You can get exactly what you want by shopping in July.
Avoid holiday promotion fatigue by planning ahead
You might not want to consider holiday gifts during the hot summer months, but if you are organized you can avoid “promotional fatigue”, which is caused by the constant advertising and sales that begin in October.
Prime Day is a great way to find the best deals for holiday presents on your wish list. This will allow you to relax and enjoy this season.
Consider the price of Prime Membership
Amazon’s Prime Day Sale is still a mystery, but last year it featured a number of “Prime Exclusive Deals”, which were only available to members.
If you’re not a Prime member, join for $14.99 per month or $139 annually. Or try another retailer. Walmart and Target are likely to have a better price on popular products.
Amazon offers discounted Prime memberships to students, as well as recipients of Medicaid and Electronic Benefit Transfer programs.
Avoid impulse buys
Prime Day is distinguished from other sales by the rotating “lightning” deals that are offered each day, and even sometimes every hour. Tassin refers to these offers as “exploding deals” due to their short lifespan, which “forces people to pay attention and participate.”
Beware: these deals have not just a set time frame, but also an allotted number of available units. This can give the impression of a false urgency. Fear that an item may sell out, or that the promotion period will end abruptly can lead you to buy on impulse.
Bottom line
Let your budget speak for you. Your financial situation should influence how you shop at the summer sales.
Tassin says that consumers are currently experiencing a great deal of insecurity. When creating your budget, you should consider inflation and other factors such as the impending repayment of student loans.