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Amazon Prime Day Deal Hunters Watch Prices Closely
Surveys Show Prime Subscribers Plan to Shop, but Many Will Compare Prices Online
Key Takeaways:
- Amazon’s four-day Prime Day sale ends June 26 as shoppers seek deeper discounts amid high gas prices in the wake of the Iran war.
- Adobe expects U.S. consumers to spend $26.3 billion online during the event, up 9% from last year’s four-day sale.
- Shoppers plan to compare prices across retailers and use AI tools, with many requiring discounts of at least 30%.
Patrice Kihlken used to get excited about Amazon.com Inc.’s annual Prime Day sale because she found the deals to be “really good.” This year she’ll browse the site for dresses and art supplies, but she’ll only buy them if the price is right. She’s been tracking prices and taking screenshots just to make sure.
“Several times the last couple of years, there has been something I’ve been thinking about and I’m like, ‘Maybe for Prime Day,’ and then you go on Prime Day, and it’s the same price it was two weeks before,” said Kihlken, 65, who recently moved from Texas to Ohio.
Battered by lofty gas prices in the wake of the Iran war, shoppers have high expectations for steep discounts on Prime Day, which runs four days ending June 26. Interest in the event — now in its 12th year — remains strong. Almost 90% of Amazon Prime subscribers plan to shop the sale, according to an April survey conducted by the marketing agency Tinuiti Inc.
But they’ll also surf the web and use artificial intelligence tools to find the best deals. More than 7 in 10 shoppers said products would have to be discounted by at least 30% for them to consider it a good deal, with 1 in 5 deeming at least half off a good discount, according to Tinuiti’s survey.
U.S. consumers will spend $26.3 billion online with Amazon and other retailers during the event, up 9% from last year’s four-day sale in July, according to Adobe Inc., which tracks visits to retail websites. Discounts are expected to be in line with last year, when apparel and electronics sellers offered about 23% off. Adobe expects back-to-school apparel to be a leading category.
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Finding good deals on school supplies during Prime Day has become an annual tradition for Savannah Lopez, a Texas teacher who typically drops about $300 to prepare for the new school year. These purchases have become more important because government funding for classroom supplies has declined, she said.
“When I started teaching eight years ago, they’d give us like $50 to go to Educational Outfitters for things that you want for your classroom,” Lopez said. “But now the budget is really low, and they don’t do that anymore.”
To stretch her buck, Lopez tracks supplies throughout the year, shares a classroom wish list online and compares prices through teacher groups and Facebook Marketplace.
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About half of shoppers said inflation is one factor compelling them to seek deals on Prime Day, according to a survey by Numerator, which tracks online spending. The average household plans to spend about $187 during Prime Day and will compare prices on competing sites like Walmart Inc., Target Corp. and Costco Wholesale Corp., according to the survey.
Kihlken has a backup plan if the deals aren’t sufficiently impressive: “I’m just going to go thrifting.”
Amazon ranks No. 1 on the Transport Topics Top 100 list of the largest logistics companies in North America and No. 1 on the TT Top 50 list of the largest global freight companies. It ranks No. 15 on the TT100 list of the largest private carriers in North America.
Walmart and Costco rank Nos. 1 and 53, respectively, on the private carriers list.
