Amazon Prime Day US sales soar to record $14.2 billion
Amazon Prime Day sales soared to an unprecedented $14.2 billion in the US, reflecting an 11% year-over-year increase, according to Adobe Analytics.
unbranded – Newsworthy
Yes, we’re just past Labor Day and we’ve already heard about some stores putting up Christmas trees before stocking the Halloween candy.
But as early as it may seem for retailers to be shifting to holiday shopping, when Back-to-School season just ended, they’re actually on to something.
Almost half, or 48%, of holiday shoppers surveyed by Bankrate say they are planning to begin their buying by Halloween.
Though some lament that the holiday shopping season starts earlier every year, retailers are responding to demand, said Ted Rossman, Bankrate senior industry analyst.
“It’s true, the season has gotten stretched out,” Rossman told USA TODAY, adding that the latest survey results are mostly consistent with what Bankrate has seen the past few years.
“About one in eight early birds have already started and about one in eight are planning to start sometime this month. October in particular, has become the unofficial holiday kickoff,” he said.
Special retailer sale events like Amazon Prime Days, Target Circle Week and Walmart’s Holiday Deals are contributing to the early rush, encouraging early holiday shopping. That trend developed during the Covid-19 pandemic when Amazon first moved Prime Day from the summer to the fall, said Rossman.
Amazon recently announced it would have a second Prime Day in October, but the date has not yet been released.
Rossman also said supply-chain problems during the pandemic caused holiday shoppers to start earlier for fear of losing out on the gifts they wanted to buy. Now, even though the supply chain is better, the shopping habits persist, he said.
“Some of it’s actually morphed into more of a desire to spread out your cash flow,” Rossman said. “With high inflation, people are very price conscious, and to the extent that they can spread it out, that’s a good thing.”
The economy is affecting people’s budgets and holiday shopping plans this year.
According to the new survey, 24% of people said they plan to spend more than last year. Meanwhile, just over a third of holiday shoppers said inflation will change the way they shop this season (34%).
Here are some other highlights from the study:
Shopping trends: Amazon shoppers are distracted by big news events, like assassination attempt
Check return policies: A lot of retailers have extended return policies so your loved ones can return the gift after the holiday. Many retailers seem to have extended those return policies beginning in October since many shoppers are starting their holiday shopping by then, said Rossman. But if you shop really early, that holiday return time period may not have started, so ask the retailer, he said. Also, check your credit card for potential extra return protections, he said.
Check price-matching: Retailers may price match if you buy something and see it cheaper later or at another retailer. But check the fine print; many don’t price-match special sales, or Black Friday-type deals, Rossman said. Some credit cards also have price protection, but many card companies have reduced those perks, he said.
Stack discounts: Combine a store promotion with a rewards credit card and a digital coupon or a third-party browser extension that helps you find deals, said Rossman.
Spread out your buying and your budget: Sketch out a budget, sketch out a gift list and use technology tools to comparison shop, said Rossman. Then “set money aside from every paycheck between now and the holidays, so that you’re not going into debt and to make sure that you have money budgeted for this.”
Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@USATODAY.com or follow her on X, Facebook or Instagram @blinfisher. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays,
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