How to make the most of your money on Amazon Prime Day next week
Amazon has confirmed Prime Day will take place on the 21st and 22nd June.
With thousands of discounts storewide, Prime members saved a reported £950 million on last year’s event alone, and now is the time to prep for the next one.
Price comparison site idealo.co.uk has joined forces with Britain’s Coupon Kid Jordon Cox to iron out the common mistakes people make on Amazon Prime Day, after new data revealed one in six shoppers spent frivolously during the pandemic and 82% admitted they spontaneously spent in a flash sale last year.
Four key questions to ask yourself ahead of Amazon Prime;
1) Do you REALLY need it? – In the weeks leading up to 2020’s Prime Day, Amazon spent 45% of its advertising budget* to showcase the event, making it impossible to avoid. It’s easy to get wrapped up in a sale, especially when it’s so heavily in the public eye. Try to shop only if you specifically need something, rather than spontaneously spending without thought.
Jordon Cox added “Whether you’re buying a present for someone or there’s something you desperately need – make sure you write a list of those items and stick to it. It can be very easy to add other things to your basket when you see it on offer, so perhaps wear some rose-coloured glasses!”
2) Is it too early to buy? – Nearly half of Brits (44%) confess to not price comparing when purchasing, which means they could be overspending where they don’t need to. Use price history tools to see when the cheapest time to buy a specific item is to avoid paying more than necessary.
For example, the average price of a TV was £994 on Amazon Prime Day last year, but on Black Friday the average price was £937, which is a total difference of almost £60.
Adding to this, Jordon comments “Doing price comparisons before you buy ANYTHING online is essential – you need to make sure it’s the cheapest place to buy it. Plus, if you have the tool to see the historical price, then you can tell if it’s the cheapest right now. Historically, the cheapest times to buy popular items and gadgets are Prime Day and Black Friday – but always double check.”
3) Can you afford it? With buy now, pay later schemes and credit cards, shopping has never been easier. Try to buy items whilst in credit and consider your monthly budget to avoid building up debt. Having different buying options gives the illusion of having the cash, but in reality, the money isn’t there to be spent.
Jordon further explains, “It should go without saying, but if you don’t have the money for something, or will struggle financially if you buy it, then think again. If a birthday or special occasion is coming up, asking for an Amazon gift card could be a good option to help cut down the cost if there’s something you need.”
4) Are you being scammed? Last year, new Amazon spam, phishing and fraudulent sites surged 2.5 times days before the event, which was the biggest uprise since the pandemic started. Cyber criminals took advantage of the sales event, so to be extra-cautious, always stick to official URLs, rather than clicking banners or ads.
Jordon explains “Lots of Prime Day emails will be sent around the event. Be wary of these by always by checking who they came from. If it looks dodgy in any way, delete it and go to Amazon’s official website for the correct information.”
idealo’s Communications and PR Manager Katy Phillips commented: “Amazon Prime Day is undoubtedly a great time to snap-up a deal, but shoppers do have to be a little bit savvy to make the most of their money. It’s so easy to get caught up in the hype, plus Amazon is made for a quick and efficient purchase, so we’re urging people to take their time and consider our four questions before clicking the big shiny ‘Buy Now’ button. “
