Shoppers love a bargain and, often, they are lured in on one of three specified days: Amazon Prime Day, Black Friday and Cyber Monday.
While the usage adages apply, only buy what you need, can afford and make sure you shop around both online and local retailers for the best price, data suggests that deals can be had.
Prime Day – which is actually two days of Amazon ‘deals’ on 21 and 22 June – is exclusively open to paid-for Prime members and has recently been heavily advertised.
But, is it better than other discount days like Black Friday or is it an event to avoid?
Consumers could save more money on Amazon Prime Day than Black Friday or Cyber Monday
Well, according to new research for This is Money by Idealo, in 54 per cent of cases, it is the best of the three days to get a deal – but much depends on what you’re after.
In particular, tech items were cheaper on this day such as games consoles, smartphones, laptops, smartwatches and wireless speakers.
By comparison, Black Friday was cheaper on 31 per cent of occasions, and Cyber Monday 15 per cent, making it the ‘worst’ shopping event for getting a deal.
Idealo analysed more than 800,000 products from the past few years on the three discount days to see which offered the best bargain.
It also compared the prices to the savings customers could get on items on the days compared to average yearly prices.
It found that, despite Prime Day offering the best deals, when observing month-by-month sales, outside of this day, Amazon was only the cheapest option for certain products for a small amount of time over the last three years.
Katy Phillips from Idealo, said: ‘Out of the three key discount days in the calendar, Amazon Prime Day has come up tops in terms of offering the most discounts across a variety of products.
‘On the day, remember that the discounts are often put live in stages, meaning that the morning could be more expensive than the evening.
‘Our study ultimately shows that focusing on one event such as Black Friday or Prime Day could result in spending much more than needed, and that these “deals” aren’t always real.’
One way customers can get the best deals all year round is to use a price alert to notify you of when your favourite products are at their lowest.
Barbecues are one of the items consumers could save a lot of money on during discount days
How much could consumers save on discount days?
The data looked at how much shoppers could save on the three discount days over the past three years compared to shopping on Amazon at other times of the year.
It found the biggest savings could be made on treadmills with consumers saving an average of £427.64 on Cyber Monday and £388.74 on Prime Day.
Other big savings could be found on televisions when customers could save £190.04 on Black Friday and £147.37 on Cyber Monday.
Likely to be popular this Prime Day, thanks to the recent spell of warm weather, consumers buying barbecues could also save an average £101.35 on Prime Day and £80 on both Black Friday and Cyber Monday.
Patio heaters will also likely be a big buy this summer as more people spend time in their gardens.
The biggest discounts were found on Prime Day where shoppers could save an extra £319.36 compared to £161.36 and £163.34 on Black Friday and Cyber Monday.
Other popular items with big discounts include food processors, games consoles and wireless speakers.
Comparatively, washing machines saw the least savings with consumers only able to save £33.54 on Cyber Monday and £5.89 on Prime Day.
Customers also saved less on smartphones that perhaps previously thought with discounts of just £2.69 on Cyber Monday – the day which is supposed to have the biggest deals on tech.
Tents also had very low savings at £4.01 on Prime Day and £21.14 on Black Friday.
|Item||Amazon Prime Day||Black Friday||Cyber Monday|
Best deals on last years discount days
Some of the best deals from last year include a range of Apple products with an iPhone 11 selling for £535 on both Black Friday and Cyber Monday in November.
The products still start from £599 on Apple’s website now, meaning the savings would likely have been greater last year when the device was a new model.
Macbook Air’s were also massively reduced on Cyber Monday to £676 – down from £899 on Prime Day last October.
These retail from £999 to £1,249 on the Apple website so consumers could get the devices almost half price.
Apple Airpods Pro also sold for £142 on Prime Day and £169 on the other two discount days.
These typically sell for £249 from Apple, again giving consumers half price on the discount days.
Other items that saw big discounts were a 4K Samsung TV that sold for £799 on Cyber Monday and Black Friday and a Shark vacuum cleaner that retailed for £199 on the same days.
The Shark vacuum usually retails for £369 – giving customers a saving of 85 per cent on the discount days.
The Bosch Serie 4 washing machine was also found to be cheaper on Black Friday and Cyber Monday at £349 with the device still retailing on the Bosch site today for £679 – a saving of 94 per cent.
|Products prices (data just for UK) in GBP||Prime Day 14th Oct 2020||Black Friday – 27th Nov 2020||Cyber Monday – 30th Nov 2020|
|Apple Airpods Pro||£142||£169||£169|
|Amazon Echo Dot||£75||£29||£29|
|York Cast Iron Dumbbell Set 20kg||£70||£92||£92|
|Microsoft Xbox Series S||£250||£379||£370|
|Bosch Serie 4 Washing Machine||£429||£349||£349|
|Asics Gel-Nimbus 22 Running Shoes||£87||£82||£93|
|JBL Flip Essential Portable Speaker||£79||£25||£49|
|SHARK DuoClean Powered Lift-Away True Pet Vacuum Cleaner||£229||£199||£199|
|Samsung Q80T QLED 4K TV||£949||£799||£799|
Top tips for shoppers on Prime Day
Both Uswitch and Idealo have put together top tips for shoppers looking to purchase on Prime Day.
1. Plan ahead: Amazon Prime Day is an excellent opportunity to take advantage of big discounts to Amazon’s flagship technology, including its streaming sticks, Echo and Kindle devices. But it’s important to know your budget and set yourself a spending limit.
2. Time to subscribe to Amazon Prime: In the run-up to Amazon Prime Day, be on the lookout for Amazon Prime membership discounts. You need an Amazon Prime membership to get the deals, and reduced memberships are often launched in the run-up to get people subscribed before the event starts.
Prime Membership will get you access to Prime Day deals, as well as free next day shipping and a whole host of movies and shows on Prime Video. If you’re not already a subscriber, you can join for a free 30-day trial.
3. Smart handset deals: If you’ve had your eye on a new smartphone for a while, now is a great chance to upgrade. If you buy a handset outright, you can then get a SIM-only contract, which is usually a lot cheaper and will likely have a better data allowance.
4. Shop around: Just because Amazon has discounted products on offer doesn’t necessarily mean they are cheapest. If you want to buy a smartphone, consider whether a ‘refurbished phone’ would be better for you.
5. Know your rights: The Consumer Rights Act says goods should be of satisfactory quality, fit to do the job intended and last a reasonable length of time. This right is limited to 30 days from the date of purchase. However, don’t forget to check for Amazon Prime Day specific T&Cs listed on the site, as well as the Amazon customer reviews before buying.
6. Do you really need it?: 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.
7. Is it too early to buy?: 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.
8. 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