Amazon Prime Day 2024: Best Deals, Shopping Tips, and Rival Discounts

Amazon Prime Day is back, offering special deals this Tuesday and Wednesday. Prime Day, which started in 2015, is a big event for Amazon. Only Prime members, who pay $14.99 per month or $139 per year, can get these deals.

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Though the sales seem great, experts say shoppers should be careful. The ads can be tempting, leading people to buy things they don't need.

Other Stores Join the Sale

Big stores like Walmart, Target, Kohl's, TikTok Shop, and Temu are also offering deals to compete with Amazon. Macy's is running an eight-day sale starting Tuesday, with big discounts.

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Why Stores Offer Summer Sales

July sales attract early back-to-school shoppers, which is the second-biggest shopping season after the holidays. These sales also encourage people to spend on items like gadgets, home products, and summer clothes. John Mercer from Coresight Research says these sales help boost spending when people might otherwise save their money for summer trips and dining out.

Are Prime Day Deals Really Good?

Amazon doesn’t share exact earnings from Prime Day, but they said last year’s Prime Day was their biggest sales day ever, with over 375 million items sold. Emarketer, a research firm, estimated Prime Day 2023 sales at $12.5 billion and expects a 7% increase this year.

Some experts think Prime Day deals are good because Amazon gets discounts from big brands and encourages other sellers to lower their prices. But with cheap products from competitors like Shein and Temu, some Prime Day deals might not seem as great.

Smart Shopping Tips

To avoid overspending, experts suggest planning ahead. Mark Elliot from LendingClub says don’t fall for the rush of sales events. Dan Egan from Betterment advises making a list of needed items before shopping to avoid impulse buys and late-night shopping out of boredom.

For those with credit card debt, Egan warns that interest payments can erase any savings from sales. He also suggests setting reminders to cancel free trial memberships to avoid surprise charges.

Getting the Best Deals

Consumer Reports suggests using Amazon's app, signing up for special deals, and joining waitlists for sold-out items. Also, compare prices on different websites. Walmart’s sale is open to everyone, with early access for Walmart+ members. Target’s deals require joining its Target Circle program. TikTok Shop’s summer sale is open to all and runs through Wednesday.

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