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new york
CNN Business
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Amazon is adding another major date to the calendar.
The company announced on Monday that the sale, called “Prime Early Access Sale”, will be held on October 11-12. The 48-hour event is exclusive to members of the Prime Subscription Program and offers discounts on “hundreds of thousands” of items.
The “Prime Early Access Sale” is available in 15 countries, including Canada, China, France, the United Kingdom, and the United States.
Amazon is following its rivals in launching a rush during the holiday shopping season. Walmart announced last week that it would begin its holiday sales as early as next month, and Target said the opening of its shopping spree, called “Coalition Days,” will take place Oct. 6-8.
Neil Saunders, retail analyst and managing director at GlobalData Retail, said the launch of holiday shopping sales in October will help attract budget-conscious shoppers.
He previously told CNN Business: “Consumers are going to start shopping early this year as household incomes tighten as they look to spread spending.”
However, appreciating all these early deals may not be a shopping frenzy for retailers during the most important sales period of the year, which historically begins on Black Friday, the day after Thanksgiving.
Households nationwide continue to experience persistently high inflation, eating into their budgets and savings, forcing them to shrink.
Consulting firm Deloitte expects holiday retail sales to increase 4% to 6% across the key gift-buying months of November, December and January (when Christmas gift cards are typically taken), down from a strong 15.1% increase. same time last year.
—CNN Business Parisja Cavilanz for this report.
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