Amazon Prime Day is just around the corner. Here’s how to find the best deals
Pent-up consumer demand and an increase in online shopping due to the pandemic could make Amazon Prime Day even more popular.
Which says a lot when you consider that it is one of the most anticipated shopping events of the year.
Prime Day, usually scheduled for July, usually includes discounts on more than 1 million items, including temporary “Lightning Deals” for Prime members.
This year, the online retail giant is slated to launch its annual two-day shopping event in June. Here’s how to get the most out of your upcoming sale.
More from Personal Finance:
The government is still sending $ 1,400 economic checks
Prices are rising – that means inflation for you
The pandemic drove these Americans into early retirement
“I always expect there to be a lot in an item that everyone buys,” said Julie Ramhold, consumer analyst at DealNews.com, of the two-day shopping event.
Popular items in the past have included the Instant Pot, Echo Dot, and of course the Amazon Coat.
Last year, amid the coronavirus outbreak, many of the deals were designed to stay in. “This year we went back in the other direction,” said Ramhold.
Expect deep discounts on fun and traveling items like backyard games, TVs, headphones, exercise equipment, and Amazon devices like the Kindle, Fire TV streamer, or the ring video doorbell.
To benefit from Prime Day offers, you must be an Amazon Prime member.
You can sign up for a monthly membership for around $ 13 or pay $ 119 for the year. Note that deal hunters 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 the upcoming deals, and mark the items you’re interested in as “watching,” advised Ramhold. You will receive a notification when the price drops.
When a store is active, add the item to your shopping cart immediately. Some Lightning deals can sell out quickly, Ramhold said. Once in your cart, you have 15 minutes to decide whether to complete the purchase.
If there’s a specific product you’re set for and you don’t see it in upcoming sales, you can create a wishlist and Amazon will notify you when it becomes part of a Prime Day deal.
To get even better use of your savings, consider using a credit card with rewards or cashback.
According to a recent spending survey by LendingTree, plans are already underway for post-pandemic sprees – or so-called revenge purchases – as vaccination rates rise and restrictions ease.
Almost half of all consumers said they love shopping so much that there is at least some possibility that they will run into debt That summer, the poll found more than 2,100 Americans.
“This feel-good situation is likely to lead to higher household expenses,” said Jack Kleinhenz, chief economist at the National Retail Federation. “Today’s dates 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,” said Kleinhenz.
Subscribe to CNBC on YouTube.