Amazon is extending its annual Prime Day sales event to four days, citing shopper demand for more time to shop and save. The e-commerce giant’s promise of deals dropping every 5 minutes during certain periods aims to capitalize on consumer interest in discounted prices.
Prime members aged 18-24 will receive 5% cash back on their purchases for a limited time. However, analysts are unsure if the extra days will translate into more spending due to renewed inflation worries and potential price increases from tariffs.
According to Adobe Digital Insights, the sales event is expected to drive $23.8 billion in online spending from July 8-11, a 28.4% increase over last year’s comparable period. Analysts predict that discounts will remain on par with last year, with retailers offering 10-24% off manufacturers’ suggested retail prices.
Shoppers might focus on necessities like beauty essentials and everyday items, as consumers worry about tariffs making items more expensive later. Some independent businesses plan to offer bigger discounts to clear inventory built up before tariffs took effect.
Amazon’s past success with Prime Day has spurred other major retailers to schedule competing sales in July. Best Buy, Target, and Walmart are repeating the practice this year, with Walmart adding two extra days to its promotional period.
Source: https://apnews.com/article/amazon-prime-day-sales-july-8-9054c1cd3cb38b3bb30bc8269759c967