Prime Day 2020: 5 Ways to Get the Best Deals
Each year, Amazon runs an event in for Prime Members advertising great deals on thousands of items. Today, we're helping you find the best deals for your budget.
1. What is your budget?
Before you visit Amazon, look at your finances and ask yourself “can I afford this right now?” If you have high interest debt (like credit cards), unpaid bills, or aren’t putting money into savings each month we recommend waiting until the holidays to take advantage of deals (Prime Day often isn’t the best deals anyways!).
If you do have room in your budget, set a limit on how much you are comfortable spending before you start making purchases. It is easy to get caught in the excitement and end up spending more than you planned.
2. Check your deals using a price tracker.
Some third party Amazon sellers raise their prices before Prime Day and then offer “discounts” to trick buyers into thinking they're getting a great deal. For example: a shirt that normally costs $10 might be priced at $20 on prime day with a 50% discount- costing the buyer $10. It looks like you're getting a 50% discount, but you really aren't since the "normal" price was doubled for Prime Day. Don’t fall for it! We have two favorite price trackers that we suggest using to make sure you’re getting a deal:
Keepa
Keepa is ideal for Amazon shoppers, tracking the pricing on over 600 million products. You can look up a specific product, view a detailed graph of historic pricing, and even install a browser extension. Keepa is also allows you to set price drop and availability alerts for specific items.
CamelCamelCamel
CamelCamelCamel is very similar to Keepa, but is focused primarily on the US Amazon store. With a simpler interface, CamelCamelCamel is easier to use for some users.
Honorable Mention: Honey
Honey doesn't track prices like Keepa or CamelCamelCamel. Instead, it tracks and applies coupons on different sites for you. It might help you save even more money on Amazon.
3. Make a list and stick to it.
"Savings” from sales aren’t really savings if you buy things you wouldn't normally buy. Amazon counts on customers to make "impulse buys" without thinking. That's how Amazon makes money on Prime Day.
You can avoid this by making a shopping list of items you normally buy or have been looking for a good deal on (household items you often buy at the grocery store, a new coat, a replacement for your dying toaster, etc.). Using this list you can have the best of both worlds: great deals and useful purchases.
It is also ok to set aside a little extra "fun money" to buy something that you want but wouldn't normally purchase. You just need to plan for it!
4. It is ok to have regrets.
We have all been there. Something looked great in the store, you get home, and ask yourself “why did I buy that?” The nice thing about Amazon is that it often has a generous returns policy. If you realize you overspent or something isn’t really what you want you can just send it back!
5. What’s worth buying (and avoiding) on Prime Day?
Worth Buying
Amazon Gift Cards (Prime Members): On 10/13 and 10/14 Prime Members receive an extra $10 on every $40 worth of gift cards they purchase. That's the same as a 20% discount on a $50 purchase!
Amazon Devices: Prime Day is a great time to pick up a Kindle, Echo, or Fire Stick. Though sales are frequent, Prime Day and Black Friday tend to have the best pricing (good news if these aren’t on your list: Black Friday isn’t far off!)
Apple Products (older models): Older Apple watches are on sale as Amazon tries to clear out their inventory. Be careful though: make sure the seller is reputable.
Digital Products: Amazon often has great sales on their digital subscription products like Kindle Unlimited, Amazon Music Unlimited, and FreeTime Unlimited.
Accessories: Since Prime Day is an excuse to clear its shelves, Amazon has lots of discounts on accessories for phones, electronics, even clothing. These are worth searching for!
Vacuums: This year Amazon has some nice deals on Vacuums from brands like Dyson. While they are not quite as good deals as Black Friday it is a opportunity if you need one.
TVs: Previously we've said "Don’t even bother"- Black Friday/Cyber Monday are your best days for TV deals. This is because Prime Day usually has low-quality TVs that aren't produced by reputable brands. However, it looks like there may be some better options this year from TCL and LG. Black Friday/Cyber Monday still have the best deals but Prime Day isn't a bad option.
Skip Buying
Sometimes you'll find a good deal in one of these categories. We generally suggest waiting to make any of these purchases though since they really aren't great deals on Prime Day.
Laptops and Computers: Normally the best time of year to make these purchases are during back to school sales during August and Black Friday. While past years have not been worthwhile, there are a few deals out there this year. We suggest checking only if you are greatly in need of a laptop now- otherwise, wait just a few weeks.
Cameras: Again, not usually well priced compared to other deals. The best time to purchase a camera is near the end of the year when new models are being released.
Consoles and Video Games: While there can be good deals, often the Holiday Season has better ones. While the pricing may be the same, retail stores often provide bundles and gift cards that offer more value.
New iPads: While many older (and some newer) Apple products have great deals on Prime Day, the new iPads will likely be cheaper closer to the holidays.
Outdoor Security Cameras (Except Ring): Black Friday will have better deals on these. Amazon prioritizes their own products like Ring Doorbells on Prime Day.
