Amazon said Monday that it will hold a second Prime Day-like shopping event next month, becoming the latest major retailer to offer holiday deals earlier this year to entice wary consumers struggling with tight budgets.
During the October 11-12 event, Amazon Prime members will get early access to discounted items. The “Prime Early Access Sale” follows Amazon’s annual Prime Day in July.
The Seattle-based e-commerce giant has long used these types of sales programs to lure people to its Prime membership, which offers fast shipping and good deals for $139 (roughly Rs. 11,300) a year. But the October event will be the first time a major sales campaign is held twice a year.
Amazon’s retail business has slowed in recent months. And the shopping bonanza represents a recognition of the need to provide more deals to inflation-stricken consumers in what is expected to be a challenging holiday shopping season for retailers.
Last week, Target said it would begin offering holiday deals in early October. Meanwhile, Walmart is extending its window for gift returns from October 1 to January 31, compared to last year’s November 1 to January 24 return window.
“What Amazon wants to do is be part of that early rush and enjoy the cherry,” said Neil Saunders, managing director of GlobalData Retail. “And the best way to do that is, instead of having little deals here and there, have one big day that’s almost like a holiday kickoff.”
Consumers are expected to shop early for holiday deals this year for the second year in a row. Last year, Americans started buying earlier to avoid shipment delays due to supply-chain snafus. This year, analysts expect many budget-conscious consumers to do the same, aiming to spread out their spending and snap up gifts before prices rise later.
Amazon Prime Vice President Jamil Ghani said the company will offer deals on digital items and products “specifically relevant to the holiday season,” as opposed to the Prime Day program in July, which focuses on back-ends, for example. school supplies. He declined to say whether the fall discount event would be permanent for Amazon.
“We are focused on having a great event this year,” Ghani said. “I can’t say what’s going to happen in the future, we don’t really think about it.”
