Prime Day’s Price Surge: Is It Really Worth the Hype?

The Art of Prime Day (and Other Sales) Savvy: How to Avoid Getting Scammed by Inflated Prices

As product experts, a large part of our job at WIRED is to help you navigate the vast world of products to find the best ones at the best prices. This includes ensuring you get the most bang for your buck during massive sales events like Black Friday, Cyber Monday, and the ever-popular Amazon Prime Day.

But before you hit that "buy now" button on a tempting deal, it’s crucial to understand the chicanery that often surrounds these sales. Sadly, not every "deal" is actually a deal. Major retailers, including Amazon, Walmart, and many others, have a knack for manipulating prices to make their promotions seem more enticing than they actually are.

Here’s how the game is played: Ahead of a major sale, retailers often inflate the original price of products that have already been discounted below their manufacturer’s suggested retail price. This way, when the "sale" hits, the price drop seems significant, even when the product wasn’t actually worth that inflated price to begin with. This isn’t a new phenomenon, either. A Harvard business professor published a paper about this practice back in 2018, and there have even been unsuccessful class action lawsuits against retailers like Kohl’s and JCPenney for this very reason.

So how do you become a savvy shopper amidst these price-inflating schemes? We can’t do all the work for you, but we can arm you with the tools and knowledge you need to navigate these sales successfully.

Mastering the Art of Price Tracking

The first step to becoming a savvy sale shopper is understanding the actual value of a deal. That’s where price tracking tools come into play. These invaluable tools monitor price fluctuations, allowing you to see if a product is genuinely discounted or just being presented as a bargain.

For Amazon shoppers, two of the most popular and effective price trackers are Keepa and CamelCamelCamel. Both platforms are free to use and accessible across most web browsers. They effectively track the historical price of products on Amazon, giving you a clear picture of their price fluctuations over time.

Beyond Amazon, platforms like SlickDeals, Honey, and Pricerunner.com can help you track prices across a broader range of retailers. Each platform has its strengths and weaknesses, so exploring a few is crucial to finding the right one for your needs.

Remember, while no price tracker is perfect, they empower you with the information you need to make informed buying decisions, ensuring you’re not fooled by inflated "deals."

Timing Is Everything: When to Strike and When to Wait

While price tracking is essential, it’s also critical to understand the seasonal rhythm of sales. Knowing when retailers are most likely to inflate prices and when to expect genuine discounts can help you save significantly.

For example, you should generally avoid buying big-ticket items, especially tech gadgets, right before a major sale like Amazon Prime Day. Retailers often elevate prices in anticipation of the event, making their "deals" appear more attractive. The same logic applies to other major sales periods like Wayfair Day, or even holiday-based sales such as Labor Day and Presidents Day.

On the other hand, Black Friday (and Cyber Monday) generally follow a different pattern. Instead of a single day or two, Black Friday often stretches into a month-long affair, with retailers consistently lowering prices to attract early holiday shoppers.

Another key event to note is the Super Bowl. Retailers often offer deals on TVs, soundbars, and home theater systems leading up to the big game, anticipating consumers’ desire for a high-quality viewing experience. However, since the Super Bowl follows a plethora of other sales events, and often coincides with the release of new TV models, these deals aren’t always as impressive as they seem.

By understanding the typical sales cycle and knowing when to hold off and when to pounce, you can significantly increase your chances of getting genuine bargains.

Staying Smart and Avoiding Common Pitfalls

Now that you’re armed with price tracking knowledge and a sense of sales timing, here are some additional tips to avoid getting trapped by inflated prices:

• Don’t Rush: Resist the allure of "limited-time offers" or "deals ending soon." Take your time, do your research, and track the price over several weeks or even months to see if it’s a real bargain.
• Be Wary of "Original Prices": Remember that the "original price" listed on a product might be artificially inflated. Compare prices across multiple retailers and check price tracking websites to get a clearer picture of the actual value.
• Consider Last Year’s Deals: Many products, particularly tech gadgets, are cyclical, with their prices often dropping considerably a year after their initial release. If you’re not in a rush, consider waiting until the following year to see if the product you want goes on sale.
• Read Reviews Carefully: Don’t just focus on the price. Check reviews from other consumers to gauge the actual quality of the product and make sure it meets your needs.
• Shop Around: Research your options and compare prices across multiple retailers. Never settle for the first deal you find.

By following these tips and embracing a proactive approach to shopping, you can navigate major sale events successfully and avoid being tricked by inflated prices. Remember, a little patience, research, and price tracking can go a long way in securing high-quality products at genuine bargain prices.

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