Pent-up consumer demand and a surge in online shopping due to the pandemic could make Amazon Prime Day even more popular.
Which says a lot, considering it’s one of the most anticipated shopping events of the year.
Prime Day, which is usually slated for July, typically includes discounts on more than 1 million items, including intermittent “Lightning Deals,” for Prime members.
This year, the online retail giant is expected to kick off its annual two-day shopping event in June. Here’s how to make the most of the upcoming sale.
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“I always expect there to be some great deal on one item that everyone buys,” said Julie Ramhold, a consumer analyst at DealNews.com, of the two-day shopping event.
In the past, some of the most popular items have included the Instant Pot, Echo Dot and, of course, the Amazon coat.
Last year, amid the coronavirus outbreak, many of the deals were geared toward staying in. “This year, we’ve swung back in the other direction,” Ramhold said.
Expect deep discounts on items related to entertaining and traveling, such as backyard games, TVs, headphones, exercise gear and Amazon devices like the Kindle, Fire TV streamer or Ring video doorbell.
In order to take advantage of Prime Day deals, you must be an Amazon Prime member.
You can sign up for a month-to-month membership for about $13 or pay $119 for the year. For deal hunters, note that membership also includes free music, movies and e-books, as well as discounts on groceries at Whole Foods.
Then, download the Amazon app, scroll through upcoming deals and mark the items you are interested in as “watching,” Ramhold advised. You’ll receive a notification when the price drops.
When a deal is live, add the item to your cart immediately. Some Lightning Deals can sell out quickly, Ramhold said. Once it is in your cart, you’ll have 15 minutes to decide whether to complete the purchase.
If there is a specific product that you are set on and you don’t see it in upcoming sales, you can create a wish list and Amazon will alert you if it does become part of a Prime Day deal.
To capitalize on your savings even more, consider using a credit card with rewards or cash back.
As vaccination rates increase and restrictions ease, plans for post-pandemic sprees — or so-called revenge shopping — are already underway, according to a recent spending survey by LendingTree.
Nearly half of all consumers said they are so eager to shop that it’s at least somewhat likely they’ll go into debt this summer, the survey of more than 2,100 Americans found.
“This feel-better situation will likely translate into higher levels of household spending,” according to Jack Kleinhenz, chief economist at the National Retail Federation. “Today’s year-over-year numbers are off the charts in some categories,” he added, particularly clothing, furniture and sporting goods.
“The economy and consumer spending have proven to be much more resilient than many feared a year ago,” Kleinhenz said.
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Source: Business - cnbc.com
