Are Amazon Prime Day deals worth it? 5 things to know
Amazon's highly-anticipated Prime Day event is scheduled to take place from July 11 to 12, and customers can expect stunning price drops with the retailer vowing to dish out their biggest discounts of the year. The sale is definitely not one to be missed.
Amazon's highly anticipated Prime Day sale is scheduled to take place from July 11 to 12, with the company committing to providing its most competitive prices of the year.
Today and tomorrow is Prime Day, Amazon's yearly event where you can find reduced prices on a wide range of products, including hair dryers and paper towels. The big retail company claims that this sale will bring the lowest prices we have seen all year, and they will be releasing new deals as frequently as every half hour throughout the two-day event.
The discounted rates are only accessible for individuals who hold a Prime subscription. A Prime membership comes at a yearly expense of $139 or a monthly fee of $14.99. This initiative holds immense significance for Amazon's overall earnings, as it contributes a substantial $25 billion to the company's annual revenue. The Federal Trade Commission, currently in the process of suing Amazon regarding this program, referenced this figure.
In the previous year, customers from all around the globe purchased a staggering 300 million products during the occasion. BofA Securities, the investment banking sector of Bank of America, predicts that this year's Prime Day will generate even greater profits for the company compared to the previous years.
If you're thinking of taking advantage of the Prime Day discounts, it might be helpful to conduct some investigation to guarantee you're obtaining the most favorable prices. Here are five factors to bear in mind before selecting "Add to Cart."
Some Deals Aren't Worth It
According to Kristin McGrath, a shopping specialist at RetailMeNot, a site that monitors discounts and coupon contributions, while Prime Day offers numerous excellent deals, not all of them are as amazing as they may appear. To ensure that you are truly receiving a fair price for an item, you have the option to employ price comparison platforms such as Camelcamelcamel, which displays the historical price fluctuations of products.
According to McGrath, certain products tend to have lower prices at different periods throughout the year. For example, furniture and kitchen appliances are usually more affordable near Labor Day, whereas gaming consoles and toys are typically less expensive during the holiday season.
Time To Stock Up Essentials!
While numerous individuals utilize sales events like Prime Day to make significant purchases like buying a television, it can also present a favorable opportunity to replenish supplies of smaller necessities.
McGrath stated that Amazon receives a great deal of attention due to its technological bargains and high-value products. However, Amazon also provides some less exciting but essential bargains for necessary items such as groceries and pantry staples that you need to replenish regularly.
Additionally, she mentioned that Amazon provides Prime Day bargains on amenities such as Amazon Fresh, its service for delivering groceries. Even if it's not yet time to replenish your pantry, she advised seizing the opportunity to benefit from a few Prime Day deals, which could result in substantial savings.
Beware! Lightning Deals & Amazon Coupons
Be cautious of lightning deals, which are exclusive bargains that have a restricted duration (and are inclined to be quick to run out of stock). McGrath suggests placing your Prime Day choices in the "Purchase Later" category of your cart. By doing so, you can monitor prices without unintentionally purchasing items prematurely.
If you're considering purchasing an item but find the cost to be quite steep, McGrath suggests checking out the product page to see if there are any available discounts. She had recently been interested in a vacuum cleaner that had a $100 reduction in price, but upon visiting the product page, she discovered an additional $100-off coupon specifically for Prime members.
"You absolutely have to be actively searching for numerous small additional tasks," she expressed.
Other Stores Join The Action
There are plenty of other retailers besides Amazon that have sales happening this week, so it's worth checking out prices at different stores to make sure you're getting a great bargain.
According to McGrath, all retailers, without exception, will be hosting sales at the same time as Prime Day.
Major retail chains such as Target and Walmart, along with smaller shops, are providing attractive discounts and special offers this week. Just like Prime Day, Walmart and Target's sales events also mandate customers to enroll in their rewards programs - Walmart+ and Target Circle, correspondingly. Similar to Amazon Prime, Walmart+ grants a complimentary trial period of 30 days, following which it incurs an annual fee of $98. On the other hand, joining Target Circle is completely free.
No Impulse Buying! More Sales Coming!
The Prime Day event extends its duration to encompass a span of 48 hours. Such a time frame may instill a feeling of urgency among consumers, causing certain individuals to engage in impulsive buying behavior. However, if you initially did not intend to make a significant purchase, there is no need to succumb to any external pressure solely because an item is offered at a discounted price.
Upcoming major sales events are approaching, and numerous retail establishments will be providing price reductions on high-priced products. McGrath further mentioned that Amazon has a tendency to replicate offers, particularly for its own merchandise, during the Black Friday period.
Please note that NPR is financially supported by Amazon.
