Amazon Prime Day has arrived, presenting shoppers with a golden opportunity to obtain exceptional deals. However, esteemed financial expert Martin Lewis, from Money Saving Expert (MSE), is advocating for caution to prevent overspending.
The highly anticipated two-day event commences at one minute past midnight on Tuesday, July 16 and continues through the end of Wednesday, providing substantial discounts on a wide array of products. Ranging from kitchen appliances, electronics, and fitness equipment to Amazon-made devices like Kindles, Echos, and Ring doorbells, there are indeed enticing deals to be found.
Nevertheless, Martin Lewis is cautioning shoppers against being enticed by seemingly steep discounts. In accordance with UK regulations, a product must be listed at a specific price for at least 28 days within a six-month period before it can be sold at a lower advertised price for five months. This measure is implemented to inhibit retailers from inflating prices for a brief period and then promptly reducing them for a ‘sale’.
Consumers are advised to conduct thorough research before making a purchase to ensure that they are obtaining a genuine deal. One invaluable tool advocated by Martin Lewis is CamelCamelCamel, a website that monitors the price history of products on Amazon. For instance, MSE discovered a Breville Barista coffee machine purportedly on sale at a 38% discount, priced at £350, but was revealed to have been priced at £301 in February of the same year. This vividly demonstrates the importance of verifying the authenticity of discounts.
While Amazon indeed offers authentic discounts on Prime Day, it is imperative to ascertain whether the promotional prices are genuinely reduced or if they were previously lower. Another essential tip is to compare the prices of products across different retailers, as Amazon may not consistently provide the best deal, even during Prime Day. Utilising Google Shopping to compare prices with various retailers and eBay can prevent overpayments for items.
Additionally, shoppers should be attentive to alterations in Amazon’s minimum delivery threshold. In June, the e-commerce giant raised the minimum spend for free delivery from £25 to £35 for non-Prime members. However, there are strategies to counter this, such as adding a low-cost item (some are priced as low as 22p) to your basket to reach the £35 threshold and qualify for free delivery. Alternatively, taking advantage of a free trial of Amazon Prime and cancelling it before the renewal date can also save on delivery charges.
In conclusion, while Amazon Prime Day presents a plethora of deals and discounts, it is crucial for consumers to navigate the sale cautiously and ensure that they are making informed purchases to avoid overspending. Heeding the guidance of financial experts and using price comparison tools can assist shoppers in maximising the benefits of Prime Day without succumbing to the pitfalls of overspending.