This corresponds to what I call the “Costco mistake”. This is the belief that absolutely everything in stock is at the lowest price anywhere. In reality, some items are cheaper elsewhere.
Likewise, on Prime Day, it’s natural to believe that every single product will be discounted to the lowest price of the year – but that’s just not the case. So think twice before you buy anything. The money you save could be your own.
Compare Prime Day prices with previous prices
In the past, Prime Day is an excellent time to get deals on Amazon-branded products: Echo speakers and smart screens, Kindle e-readers, Fire TVs, etc. Indeed, the prices on these items can be among the lowest to date, or at least among the lowest. Case in point: Thewhich corresponds to its all-time low.
OK, but what about the non-Amazon Fitbit Versa 3 that you’ve been keeping an eye on? Or those Sony headphones? They might be for sale, but how can you be sure this is the right time to pull the trigger?
Get started with CamelCamelCamel, an invaluable shopping tool that monitors Amazon prices. Just copy and paste the Amazon url for a specific product (or use the Camelizer browser plug-in which saves a ton of time) and you will see the full history for that product.
And if you see a lower price earlier, now you know that there may be a lower price coming up in the future. Here’s the lesson again: don’t just assume Prime Day pricing is the best pricing. See for yourself.
Remember, other businesses exist
Look beyond Amazon too.and I have little doubt that stores like Best Buy and Kohl’s will too.
But do you really have to jump from one website to another to compare the price? No! Tools like PopCart, PriceBlink and OctoShop can show you at a glance whether there are any. I definitely recommend installing one of these browser plug-ins.
Would you like to know more? I talk about these and other Prime Day strategies on the latest installment of the Cheapskate Show podcast!
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