Alexa Amazon’s Prime Day-like event kicks off holiday discount frenzy amidst high inflation
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Amazon’s Prime Day-like event kicks off holiday discount frenzy amidst high inflation


Retail

Amazon’s Prime Day-like event kicks off holiday discount frenzy amidst high inflation

Amazon.com Inc. fired up the holiday shopping season with its second major sales event of the year as rivals from Best Buy to Walmart joined in with discounts to attract customers grappling with inflation-squeezed Christmas budgets.

The two-day “Prime Early Access Sale” shopping event for Amazon members starts on Tuesday and is much like the Prime Day summer marketing blitz and will compete with early discounts from rival retailers.

Walmart Inc is holding a “Rollbacks and More” sale event from October 10-13, 2022, to counter Amazon’s discount days, with deals and offers on everything from luggage to Hot Wheel toys.

Best Buy Co Inc and Kohl’s Corp’s 48-hour sale also runs on the same days as Amazon’s event, while Target Corp conducted its “Deal Days” from October 6-8, 2022, to avoid a clash with Amazon.

Carol Spieckerman, Spieckerman Retail Consultancy’s president said retailers are likely to fight harder and earlier for potentially lesser revenue this year. He added the thinking was that the early bird catches the dollar.

Early discounting and inflation is also expected to slow holiday spending in 2022. US online holiday sales are expected to rise in 2022 at their slowest pace since at least 2015 and grow only 2.5% to $209.7 billion, according to Adobe Analytics.


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