Amazon to hold Prime Day-like shopping event in October

Amazon to hold Prime Day-like shopping event in October

Amazon said Monday that next month it will hold a second Prime Day-like shopping event, making it the latest major retailer to offer holiday deals earlier this year to entice cautious consumers struggling with tighter budgets.

During the October 11-12 event, Amazon Prime members will get early access to discounted items. Following Amazon’s July Prime Day, the “Prime Early Access Sale” will be available to Prime members.

The Seattle-based e-commerce giant has long used these kinds of sales events to lure people into its Prime membership, which offers faster shipping and better deals for $139 a year. It will hold its October event for the second time in a single year.

The retail business of

Amazon had been slowing in recent months. The addition of the October shopping bonanza signals a recognition that the company needs to provide more deals to inflation-hit consumers in what’s expected to be a challenging holiday shopping season for retailers.

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Last week, Walmart and Target announced they would begin offering deals and price-matching offers earlier this year to keep up with Americans pressed by soaring inflation.

Target said it would begin offering holiday deals in early October and plans to hire up to 100,000 seasonal employees in stores and distribution centers this holiday season, in line with a year ago. Meanwhile, Walmart is expanding its window for gift returns to between October 1 and January 31, compared with last year’s return window of November 1 to January 24.

“Holiday kickoff”

“What Amazon wants to do is be part of that early crowd and get a bite of the cherry,” said Neil Saunders, managing director at GlobalData Retail. The best way to achieve that is to have a big day that feels almost like a holiday kickoff, rather than having a few deals here and there. “

This year is the second consecutive year that holiday shoppers are encouraged to shop earlier. Last year, Americans started shopping earlier to avoid shipment delays caused by supply-chain snafus. Analysts expect that many budget-conscious consumers will do the same this year, hoping to spread their spending and grab gifts before prices rise later.

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Jamil Ghani, vice president of Amazon Prime, said the company will offer deals on digital items and products that are “particularly relevant for the holiday season,” as opposed to its Prime Day event in July, which, for example, focused on back-to-school items. He declined to confirm whether the fall discount event would be a permanent Amazon feature.

” We’re just focusing on having a great year this year,” Ghani stated. “I cannot predict what will happen in the future, we aren’t really thinking about it. “

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