Amazon Prime Day 2020, otherwise known as October 13 and 14, will attract millions of buyers who want to price Black-Friday-in-October on millions of products. But here’s the thing: While there will certainly be some great bargains, it’s a mistake to assume that every deal is the best deal.
This is similar to what I call “Costco fallacy”, which is the belief that absolutely everything in stock has the lowest price anywhere. In fact, some items are cheaper elsewhere.
In the same way, it is natural to believe that each individual product will be labeled at this year’s lowest price during Prime Day – but that is simply not the case. So consider doing a quick research before buying anything. The money you save can be your own.
Compare Prime Day prices with previous prices
Historically, Prime Day is a great time to make deals on Amazon-branded products: Echo speakers and smart screens, Kindle e-readers, Fire TV and so on. In fact, the prices of these items may be some of the lowest so far, or at least tied to the lowest. Case in point: The, which matches its minimum time.
OK, but what about the Fitbit Versa 3 that doesn’t have Amazon? Or the Sony headphones? They can be sold, but how can you be sure this is the right time to pull the trigger?
Start with CamelCamelCamel, an invaluable shopping tool that monitors Amazon pricing. Copy and paste the Amazon URL for a specific product (or use the Camelizer browser plug-in, which saves a lot of time) and you will see the complete history of that product.
And if you see a lower price at an earlier date, you now know that there may be a lower price coming in the future. Here’s the lesson again: Do not just assume that Prime Day pricing is the best pricing. See for yourself.
Remember that there are other stores
Look beyond Amazon as well., and I have little doubt that stores like Best Buy and Kohls will do the same.
But do you really need to bounce from one site to another just to compare prices? No! Tools like PopCart, PriceBlink and OctoShop can show you an overview if available. I definitely recommend that you install one of these browser extensions.
Want to know more? I’m talking about these and other Prime Day strategies in the latest episode of the podcast The Cheapskate Show!
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