Call it “Black Friday in July”: This Tuesday is expected to be one of the biggest deal and shopping days of the year as more major retailers hold sales to compete against Amazon’s Prime Day.
Billions of dollars are expected to be spent at Amazon and competitors this week even as consumers deal with inflation and record-high debt.
“The consumer is very price sensitive and is on the lookout for deals and bargains, so many households will take advantage” of the July sales, GlobalData managing director Neil Saunders told Axios.
Experts consider Prime Day to be the unofficial start of back-to-school shopping and some bargain-conscious consumers will get an early jump on Christmas.
The deals converge as Prime Day starts and competing sales take place at Walmart, Target, Best Buy, Kohl’s and Macy’s.
On the food front, 7-Eleven is handing out free Slurpee drinks and Subway has a free sandwich giveaway Tuesday.
“Amazon’s competitors know that if they make no effort to offer deals during Prime Day they will lose share to Amazon,” Saunders said.
Kristin McGrath, a shopping expert with RetailMeNot, told that because Prime Day requires a Prime membership, a lot of retailers market their sales for everyone “in an attempt to siphon some of that hype.”
Prime Day week 2022 drove $22.4 billion in overall U.S. online sales including $11.9 billion during the 48-hour Prime Day period, per Adobe Analytics data.
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