With Amazon Prime Big Deals Day set to land on October 10, many savvy shoppers are already prepping their online carts for a savings blitz. The retail event sees some of the biggest names in technology, fashion and homewares offer enormous discounts on their range of products over a condensed 48-hour period, from Dyson and PlayStation through to Bosch and Casio. According to the experts, however, snagging a bargain is not always as easy as it seems.
What to Expect From Prime Big Deals Day 2023
Over the past three years, Amazon marque sales event, Prime Day, has famously bucked the retail trend, generating significant revenue for the digital commerce platform. Even with lingering supply-chain issues weakening the sector, Amazon Prime Day managed to bring in over USD$12 billion in 2022, according to estimates from Digital Commerce 360, and that is expected to grow. The recent cost of living crisis, coupled with rising inflation globally has made consumers more cost-conscious and sales events such as Prime Day offer a rare opportunity to buy in at a reduced rate.
According to Chris Costello, senior director of marketing research at omnichannel marketing platform Skai, thew new Amazon Prime Big Deals Day helps to usher in the start of the Black Friday/Cyber Monday shopping period. The marketing expert believes that the October event, while not dissimilar from previous editions, will deliver a swathe of discounts for those shoppers willing to buy into the hype.
“The playbook for Prime Day is pretty well-established by now; Lots of discounts across lots of shopping categories, some of which will be in effect before the event itself, and some that may only exist for a timed window or while supplies last,” Costello said. “Not to mention a lot of promotion for the event itself, mostly from Amazon but also from the brands who are selling their products there. The vibe for the October event is a little bit different than back in July, as it may involve more gift purchases as Amazon looks to kickstart the holiday season.”
Key Trends for Prime Big Deals Day 2023
For Australian shoppers, Prime Day has traditionally centred on electronics and technology as the major avenues for savings. For Big Deals Day, that trend is likely to continue, with big-name retailers able to leverage percentage discounts on their products, which are generally considered purchases, to drive greater interest.
“Never bet against Computers & Consumer Electronics,” Costello said. “Since they are generally bigger-ticket items, they’re more attractive to consumers because the discounts can be deeper, and also to the brands, who can absorb the premiums on ad prices during the event and still show a positive return on investment.”
According to recent surveys conducted by Costello and the marketing platform Skai, both Apparel & Fashion and Home & Garden sectors generated positive interest for the event, with the data also suggesting that Beauty & Personal Care is a category that will see growth during this period.
How to Get the Best Deal this Amazon Prime Big Deals Day
As Costello points out, the secret to getting the best deal on Prime Big Deals Day is patience. While many deals appear to be great from a savings perspective, more often than not, you’ll find yourself considering products that you don’t need. Instead, the marketing expert suggests wish-listing the items that are of high importance to you now and waiting for notifications that they have gone on sale.
“If you save items to your Amazon wishlist, you should get notified if there is a Prime deal on those products. This can keep you focused on things you actually need,” Costello said. “If you don’t know what you’re looking for, check back multiple times over the two days, as there are plenty of time-restricted and limited-quantity promotions. You may be able to tweak notifications on your mobile device to have deals pushed to you unless you’re the type of person who shuts off all their notifications.”
Importantly, Costello revealed that Prime Big Deals Day isn’t the only way to score a great deal over the period. With many retailers actively competing against Amazon for market share, some stores may introduce deals of their own to bring customers back, an act he refers to as ‘counterprogramming’.
“Other retailers are also running events to compete with Amazon, and can be a way to maximize your savings over a wider range of products,” Costello said. “Search engines are your best friends for surfacing those deals as Google and Bing typically will show current pricing and discounts across their shopping results.”
As with all shopping sales periods, Amazon Prime Big Deals Day is an important avenue for revenue growth and should be approached with consideration. Many of the products discounted will be out-of-season or out-of-style, so it’s important to ensure you are spending your money wisely. Make sure to shop around to find the best deal and stay up-to-date with our complete guide to Amazon Prime Big Deals Day 2023.
