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Amazon Prime Day Deals Are Almost Here. Should You Take Advantage Of Them?

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5 months ago

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Amazon | AP news Image

NEW YORK — It’s summer, and the deals appear easy at an era when many consumer costs are high.

Since Amazon’s inaugural Prime Day in 2015, July sales events have emerged as a seasonal revenue generator for the retailer. While customers may be lured by claimed can’t-miss bargains on some products, personal finance experts warn against falling for possibly misleading marketing or succumbing to impulse purchases.

Amazon has raised anticipation in recent weeks for its tenth Prime Day event, which will take place on Tuesday and Wednesday. This event is only open to consumers who pay $14.99 per month or $139 per year to enjoy free shipping and other benefits as Prime members.

Rival merchants have previously attempted to capitalize on the Prime Day frenzy by providing deals over two days. This year, Walmart, Target, Kohl’s, and newcomers TikTok Shop and Temu launched summer sales ahead of Amazon, seeking to steal some of the e-commerce giant’s bargain-hunting customers. Meanwhile, Macy’s will launch its “best summer deals” during an eight-day discount campaign starting on Tuesday.

Amazon Prime Day Deals Are Almost Here. Should You Take Advantage Of Them?

Why are companies offering such large summer discounts?
July sales help merchants attract customers who want to jump on back-to-school shopping, the industry’s second-most crucial shopping season after the winter holiday. The markdowns also attract discretionary spending from buyers eyeing technology, household products, and seasonal items like a bikini or a new summer dress.

According to Coresight Research’s head of global research, John Mercer, discounts can help shops battle “a summer lull in retail spending” as consumers transfer their spending to summer holidays and services, such as dining out.

“It drives a bit of excitement in that mid-year period,” when shops might otherwise struggle to generate additional money, Mercer said. He said that businesses have also used discounts to stimulate consumer spending throughout the recent time of high inflation and interest rates.

Amazon does not disclose how much revenue it generates from Prime Day, but it does provide some clues of its performance. According to the firm, last year’s event was the “single largest sales day” in its history, with buyers purchasing over 375 million things.

According to Emarketer, Amazon’s global Prime Day sales will reach $12.5 billion by 2023. The company expects sales to increase by about 7% this year.

Are the offer prices truly bargains or something else?
It depends on whoever you ask.

Retailers overstate their promos to attract customers. However, the New York Times-owned product review website Wirecutter wrote this month that most of Amazon’s early discounts this year “stink.”

Kirthi Kalyanam, a Santa Clara University management professor preparing a book about Amazon, says Prime Day deals have historically been fantastic. According to Halyanam, the company was able to secure discounts from well-known brands like Apple and persuade third-party vendors to decrease their pricing by promising to feature them prominently on the Amandon website.

However, Prime Day discounts may be less relevant as shoppers acclimate to the ultra-cheap products supplied by Amazon competitors Shein and Temu, founded in China.

“Many of (the) deals may not be as competitive compared to Temu and Shien,” said Kalyanam.

At the same time, he stated that competing stores will most certainly look at Amazon’s prices and attempt to match them overnight. Last week, he reported that Best Buy discounted two products after Amazon announced some of its early bargains.

Numerator, a consumer research company, said that most of the approximately 5,000 Prime Day buyers it surveyed following last year’s event received product discounts of up to 40%. According to survey respondents, one-quarter of items were selling at a discount of 60% or more.

Some buying gurus have claimed that previous Prime discounts were smaller than they appeared.

What are some strategies for finding bargains and sticking to a budget?
If you’re on a tight budget, personal finance experts advise you to think twice before you buy.

“Avoid the false sense of urgency of manufactured holidays,” says Mark Elliot, chief customer officer at financial services startup LendingClub. “The idea that ‘The more you spend, the more you save’ — that’s just definitionally not true.”

According to Dan Egan, a vice president at Betterment, a financial advice and investing firm, buyers should compile a list of what they need before the deals begin so that they may make conscious purchases. He advises customers to avoid purchasing late at night or out of boredom.

“Once you have a list, it’s less likely you’ll get distracted by things you don’t need,” Egan told me. “If that list contains almost nothing, I would recommend deleting the (retailers’) apps from your phone for the next week or two. Or you’ll get a lot of notifications.”

He said any consumer who already has a credit card balance should be aware that the interest spent on that balance may cancel out any perceived savings from a summer sale purchase.

“A deal is not a deal if you have to pay interest on it,” according to Egan.

While it may make sense for shoppers to try out free or temporary memberships to qualify for the best deals during the summer sales, according to Erin Witte, the Consumer Federation of America’s director of consumer protection, those programs usually charge a fee to the customer’s credit card on file after a short period of time.

Amazon Prime Day Deals Are Almost Here. Should You Take Advantage Of Them?

“Set a calendar reminder to cancel if you don’t want to proceed with that subscription,” Witte told me. Think about it from the beginning. Remember that these corporations designed this product to make it simple to sign up but more difficult to cancel.”

Consumer Reports also provides some tips: Download Amazon’s app, sign up for invite-only discounts available to a few buyers, and get in the queue for limited-time specials that have already sold out.

Remember to browse around.
Filling up an online Amazon cart appeals to Prime members because they are paying for Prime Day specials. However, comparing costs from multiple websites before buying is always a good idea.

Unlike Prime Day, Walmart’s monthly discount event was available to anyone. However, the business sweetened the bargain for Walmart+ members by giving them early access.

Target only gave discounts to Target Circle members and utilized the weeklong event to promote a new membership program aimed at increasing sales and traffic.

TikTok Shop, the e-commerce arm of the famous video-sharing app, has made its summer sales event available to everyone. The event began on July 9 and continues till Wednesday.

SOURCE | AP

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Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics. Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Sonic the Hedgehog Dominates Christmas Wish Lists

Published

1 day ago

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2024-12-21

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Sonic the Hedgehog
Sonic the Hedgehog Merchandise are hot Christmas Items

Sonic the Hedgehog is dominating Christmas wish lists this year. The lovable blue hedgehog is back in the spotlight, from sonic the hedgehog toys and games to sonic the hedgehog coloring pages and movie hype.

Sonic-themed holiday merchandise is on fire, from quirky sweaters to action figures flying off shelves. Sonic the Hedgehog Christmas outfits for kids are selling out fast, making them a go-to gift option for festive fun.

Retailers have been quick to recognize Sonic’s holiday appeal. Special promotions and exclusive items, like the Sonic holiday t-shirts, are everywhere.

Everyone’s stocking up on Sonic merchandise, from big-box stores to boutique retailers.

Online shopping platforms are seeing a surge in searches for Sonic items. Whether it’s Sonic Christmas-themed tops or Sonic the Hedgehog coloring pages, Sonic the Hedgehog toys or Sonic and the Hedgehog 3, the demand is skyrocketing.

Retailers who tap into this trend are sure to see strong holiday sales.

Sonic has been around since the early 90s, but his popularity never wanes. With the release of Sonic 3, fans are more excited than ever.

sonic the hedgehog 4

Sonic the Hedgehog 4

Meanwhile, Paramount Pictures is preparing “Sonic the Hedgehog 4,” with the newest addition in the family-friendly genre set for a spring 2027 release.

The announcement comes as “Sonic 3” opens in theatres on Friday, estimated to gross $55 million to $60 million from 3,800 North American locations.

The sequel is shaping up to be a good holiday season blockbuster for Paramount, which explains the desire in future “Sonic” adventures. On the international front, the film will be released on Christmas Day in 52 markets.

On Rotten Tomatoes, critics gave “Sonic 3” an outstanding 87% fresh score.

The first two films grossed a total of $725.2 million at the global box office and generated over $180 million in global consumer expenditure through home entertainment rentals and digital purchases.

They also inspired a spinoff Paramount+ series, “Knuckles,” which premiered earlier this year.

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Amazon Strike Called By Teamsters Union 10,000 Walkout

Published

2 days ago

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2024-12-20

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Amazon Strike Called By Teamsters Union
Teamsters members were demonstrating at "hundreds" of other Amazon locations.

An Amazon strike has hit facilities in the United States in an effort by the Teamsters union to pressure the corporation for a labour agreement during a peak shopping season.

The Teamsters union told the Associated Press that Amazon delivery drivers at seven facilities in the United States walked off the job on Thursday after the firm failed to discuss a labour contract.

According to the union, Amazon employees in Teamsters union jackets were protesting at “hundreds” of additional Amazon facilities, which the union billed as the “largest strike” in US history involving the company.

The corporation, which employs over 800,000 people in its US delivery network, stated that its services will be unaffected.

It was unclear how many people, including members of Germany’s United Services Union, participated in Thursday’s demonstration. The Teamsters union reported that thousands of Amazon employees were implicated in the United States.

Amazon Strike at 10 Locations

Overall, the group claims to represent “nearly 10,000” Amazon strikers, having signed up thousands of people at roughly ten locations across the country, many of whom have joined in recent months.

The organization has claimed recognition from Amazon going on strike, claiming the firm illegally neglected its obligation to bargain collectively over salary and working conditions.

The Teamsters is a long-standing US union with nearly one million members. It is well-known for securing lucrative contracts for its members at companies like delivery behemoth UPS.

Most of the Teamsters’ Amazon campaigns have concerned drivers working for third-party delivery companies that partner with the tech behemoth.

Amazon denies that it is liable as an employer in those circumstances, which is a point of legal contention. In at least one case, labour officials have taken a preliminary stance in favour of the union.

Stalled Contract Negotiations

Amazon employees at a major warehouse on Staten Island in New York have also chosen to join the Teamsters. Their warehouse is the only Amazon facility in the United States where labour officials have formally recognized a union win.

However, the Amazon strike is because contract negotiations have not progressed since the 2022 vote. It was not one of the areas scheduled to go on strike on Thursday.

Amazon, one of the largest employers in the United States, has long received criticism for its working conditions and has been the target of activists seeking to gain traction among its employees.

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Business

Amazon Encounters Numerous Strikes As Unions Aim At The Holiday Shopping Surge.

Published

3 days ago

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2024-12-19

By

Amazon

(VOR News) – Thousands of Amazon employees at various sites across the country were scheduled to go on strike on Thursday in an effort by the Teamsters union to pressure the retail behemoth to acknowledge its unionised workers in the United States.

The walkout is expected to concentrate on seven Amazon locations across the country during the holiday purchasing surge and may be the most significant union action against Amazon in the nation’s history.

The business announced on Thursday morning that there had been no effect on operations. It also stated that it is “continuing to concentrate on fulfilling customers’ holiday orders.”

The International Brotherhood of Teamsters maintains that it represents more than 10,000 Amazon employees and contractors in aviation centres, warehouses, and delivery centres.

Amazon has refused to acknowledge the union for many years.

The retail giant, which employs approximately 1.5 million individuals, excludes contractors and part-timers. A strike has been initiated by delivery couriers and warehouse employees at seven distinct locations in order to exert pressure on the company to negotiate a collective bargaining agreement that would encompass modifications to compensation, amenities, and working conditions.

Picketing was intended for New York, Atlanta, Los Angeles, San Francisco, and Skokie, Illinois.

Also, the Teamsters assert that they are establishing picket lines at “hundreds” of additional warehouses and delivery centres by encouraging non-unionized workers to picket under U.S. labour law, which protects workers’ ability to take collective action to further their interests.

“Amazon workers are exercising their power,” Randy Korgan stated to NPR.

“They now realise there is a pathway to take on a corporate giant like this – and that they hold the power.” Amazon responds by accusing the Teamsters of fabricating information regarding the strikes, asserting that the participants are “entirely” outsiders rather than employees or subcontractors of the corporation.

Amazon spokesperson Kelly Nantel stated that “the reality is that they were unable to secure sufficient support from our employees and partners and have invited external parties to harass and intimidate our team.” For more than a year, the Teamsters have been intentionally misleading the public by claiming to represent “thousands of employees and drivers.” They do not.

The Teamsters did not provide a specific duration for the strike; however, they informed NPR that it would extend beyond one day. Workers would receive $1,000 per week in strike money, as per the union.

Teamsters President Sean O’Brien issued a statement in which he stated, “If your package is delayed during the holidays, you can attribute it to Amazon’s insatiable greed.” We established a firm deadline for Amazon to attend the meeting and treat our members equitably. They disregarded it.

The Teamsters granted until December 15 to convene with its unionised employees and develop a collective bargaining agreement.

Amazon has opposed all unionisation efforts in court, asserting that unions were not advantageous to its employees and emphasising the compensation and benefits that the organisation currently provides.

Amazon has been accused of discriminatory labour practices on numerous occasions, including the termination of labour organisers. Furthermore, it has disputed its official status as a contract employer.

Teamsters organize Amazon delivery couriers and other employees.

In June, Amazon established its first unionised warehouse in Staten Island, New York, two years after making history by voting to join the fledgling Amazon Labour Union, which is also affiliated with the Teamsters.

The union is one of the most influential in the United States and Canada, with 1.3 million members. On Thursday, the German United Services Union declared that Amazon employees in Germany would participate in a strike in conjunction with their American counterparts.

In the past, Amazon has experienced demonstrations in Germany and Spain that were related to the holiday season in order to advocate for improved wages and working conditions.

“The holiday season has arrived.” Delivery is anticipated. Patricia Campos-Medina, the executive director of Cornell University’s Worker Institute, asserts that “this is the moment in which workers have control over the supply chain.”

The Teamsters have reported that Amazon’s profits have increased both during and after the pandemic. The corporation is currently valued at over $2.3 trillion, with net income of $15 billion in the most recent quarter alone. It is the second-largest private employer in the United States, following Walmart.

SOURCE: NPR

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