Amazon will hold the second Prime Day this year in October: what will be the discounts
On September 26, Amazon announced that a sale called "Prime Early Access Sale" will take place on October 11-12. The 48-hour event is exclusive to Prime Members and will include discounts on "hundreds of thousands" of items. CNN.
Prime Early Access Sale will be available in 15 countries including Canada, China, France, the UK and the US.
Amazon is following its competitors to speed up the holiday shopping season. Last week, Walmart announced that it would launch its holiday sales as early as next month, while Target said it would launch sales called "Deal Days" October 6-8.
According to Neil Saunders, retail analyst and managing director of GlobalData Retail, launching holiday sales in October will help attract budget-conscious shoppers.
“Consumers are set to start buying holiday shopping earlier this year as they look to spread spending at a time when household incomes are shrinking,” he said.
However, all of these early deals may not generate a buzz during retailers' most important sales period of the year, which historically begins on Black Friday, the day after Thanksgiving.
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Households across the country continue to struggle with persistently high inflation that is eating into their budgets and savings, forcing them to cut spending.
Consulting firm Deloitte expects total holiday retail sales in the key gift-buying months of November, December and January (when Christmas gift cards are typically redeemed) to rise 4-6%, compared to a solid 15,1% growth last year during this same period.
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