Consumers may have lots of opportunities to save — and spend — money.
- It’s common to find competitive prices on Amazon.
- The retail giant could announce a number of shopping events that result in added savings.
Shopping on Amazon can be both cost-effective and convenient. After all, instead of having to drive to a store and wait in a line to check out, you can load up a digital cart with purchases and wait for them to arrive at your door. And if you’re a Prime member, you can enjoy free two-shipping on most orders.
Meanwhile, Amazon’s competitive prices make it a popular shopping option for consumers on a budget. And you may find that you end up with lower credit card bills by making purchases on Amazon. This especially holds true if you’re able to capitalize on mega-sale events.
In 2022, Amazon held a bunch of those. First there was Prime Day, a two-day event that took place in July. Then there was October Prime Day, followed by Black Friday and Cyber Monday.
The question is: Just how many mega-sales will Amazon run this year? And should you aim to take advantage of them?
Prepare for a series of deals
There’s a reason Amazon likes to introduce shopping events like Prime Day — all the hype tends to draw consumers in, thereby adding to the retail giant’s revenue. Based on the success of Prime Day and October Prime Day in 2022, it’s fair to assume that Amazon might hold its usual summertime Prime Day event this year and then have a follow-up sale ahead of the holiday season.
In fact, last year, a lot of retailers adopted the strategy of starting their holiday deals early. The logic was that putting items on sale in October would mean reaching customers before their holiday budgets got spent down. So it’s conceivable that Amazon will go a similar route this year. It may even host its follow-up Prime Day event a little earlier in an attempt to beat competitors to the punch.
Meanwhile, we can pretty much bank on a host of Amazon deals on both Black Friday and Cyber Monday. These are established deal days, so to speak, so there’s no reason Amazon wouldn’t stick with them.
Should you shop during Amazon’s mega-events?
The discounts available during shopping events like Prime Day can be huge — but that’s not always the case. And unfortunately, what often happens is that consumers feel pressured to shop during major events and wind up spending money they can’t afford to part with on items they don’t really need or want.
That’s why instead of making plans to shop during mega-sales, a better bet is probably to maintain a list of items you want or need and keep track of their prices. If you’re hoping to upgrade your laptop and see a great deal hit during Amazon’s next Prime Day event, then by all means, pounce — especially if you have the money in your savings account to cover that purchase. But you shouldn’t just buy a laptop on Prime Day because you see it heavily discounted.
All told, Amazon might offer shoppers loads of bargains in 2023. But it’s important to spend your money carefully, especially if it’s gotten tight and you don’t want to end up in debt.
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