Amazon Prime Day-like sale coming in October
- Consumers stung by high inflation say they are starting to shop for gifts earlier than in past years to stretch their budgets.
Driving the news: The 48-hour sale kicks off Oct. 11 at midnight PDT (3am EDT) and runs through Oct. 12 for Prime members in 15 countries, including the U.S., Canada and China.
- Amazon said there will be “hundreds of thousands of deals” and its lowest prices of the year on select products and brands.
- The retail giant also is dropping its first “Top 100 list” of popular gifts and said it will feature deals from the list during the sale.
By the numbers: Holiday shoppers are expected to spend 7.1% more this year than they did in 2021, which would fall short of last year's 8.5% increase, according to the Mastercard holiday forecast.
Yes, but: With inflation at a four-decade high, retail spending could suffer a decline in real terms, Axios’ Nathan Bomey reports.
What they’re saying: Jamil Ghani, vice president of Amazon Prime, said in a statement that the sale was “an exclusive opportunity for members to get deep discounts on top brands we know they are looking for this time of year.”
Flashback: Amazon launched Prime Day in 2015 to reward Prime members. Prime Day was held in July every year before the pandemic.
- Prime Day 2020 was delayed until October and was considered the start of the holiday shopping wars, with competitors also holding sales.
Target Deal Days, Walmart holiday guarantee coming soon
Meanwhile, Target and Walmart have also announced early holiday shopping plans.
- Target starts a three-day “Deal Days” sale on Oct. 6 with "hundreds of thousands of deals online and in stores."
- Walmart is extending its holiday return window starting Oct. 1 and will soon accept unwanted items curbside and at doorsteps.
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