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Thousands of products will be on sale during this year’s Amazon Prime Day. Find out how to make sure you’re getting a good deal this July 11 and 12.
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Amazon Prime Day (July 11 and 12) is usually jam packed with all kinds of special offers, but that doesn’t mean that everything’s a bargain. Sales are often a chance for retailers to clear out unwanted inventory, meaning they may put heavy discounts on various manufacturers’ sub-par creations.
Here are some of the worst things to spend your money on this Amazon Prime Day.
1. Supplements and diet products
Sale or no sale, buying supplements online can be a minefield. Amazon does require various certifications and documentation for health supplements. But the retailer has also run into difficulties before with counterfeit products. Indeed, independent studies show that many of these products could be mislabeled or misbranded. Others could contain ingredients that aren’t listed on the label.
Don’t take chances with your health by buying discounted products that may not do what they promise. If you’re going to buy health supplements or vitamins online, Amazon Prime Day is not the time to do it. Look for products with third-party certification and consider buying directly from the brand itself.
2. Apple products
If you’re waiting for a great deal on the latest iPhone, Mac, or AirPod, you may be disappointed. Apple rarely discounts its products for Black Friday, Cyber Monday, Amazon Prime Day, or other sale events. Particularly since Apple and Amazon are competitors for some of these lines.
Amazon is already awash with early access deals, and there are hefty discounts on plenty of Amazon products and smart home devices. Which is great if you’re an Alexa fan and you use Amazon Fire products. But if you’re an Apple person, you’re unlikely to score many discounts. A better way? Look out for refurbished Apple devices and consider trading in an old device for a new one.
3. TVs
Outside of Amazon Fire, if you’re in the market for a new TV, you’ll likely get a better deal in the Black Friday sales. That is, assuming you’re able to wait until November. Black Friday often brings bigger discounts on a wider range of products. It’s also worth knowing that January and February can be good times to get TV deals. According to Good Housekeeping, manufacturers often release new models around March, so the preceding months may see heavy discounts as suppliers clear out their inventories.
4. Clothes
There can be some good deals on clothes, but you may find the offers only apply to certain sizes. Plus, discounted items may come in strange colors or uncomfortable fabric. One of the best value ways to save money on clothes is to look for secondhand items or go to a clothes swap. If you prefer to buy new, look for quality over quantity. Aim to own a couple of well-made timeless items that will last a good few years. If you can buy them on sale, so much the better. In the long run, it will be better value than buying lots of fast fashion items that fall apart the second or third wash.
5. Items that will languish at the back of your cupboard
I used to be a sucker for kitchen gadgets that wound up gathering dust. From avocado cutters to various garlic crushers, I’m now a lot more cautious. For example, take the Banana Loca tool. It may have appeared on Shark Tank, but that doesn’t mean you’re going to use something that will fill your bananas with chocolate or any other sauce.
Before you spend $30 or more on a new gadget that you will barely use, think about how else you could use that money. For example, if you don’t have an emergency fund to cover three to six months’ worth of living expenses, even $30 can make a difference. And if you’re not where you want to be in terms of your retirement savings, why not invest that money? Personally, I’d rather build wealth than stuff bananas.
Telling the differences between bargains and bad buys
We’re all different, and what one person considers wasteful spending could be someone else’s bargain of the year. All the same, there are some hard-and-fast rules that can stop you wasting money.
Don’t buy something on Amazon Prime Day if:
You could get it at a better price elsewhere: Target and Walmart both have sales around the same time as Amazon, so be sure to shop around.It isn’t something you were planning to buy: I’m not saying you don’t need to buy a 36-color set of glitter nail varnish or a bikini-themed neon light for your wall. But if you didn’t know you needed it before you saw the offer, you probably wouldn’t notice if you gave it a miss.There are price shenanigans at play: Online retailers have ways of pushing prices up just before a sale. You might think you’re getting 50% off an item that’s reduced from $400 to $200. But if it was available last week at $150, you’ll still be paying over the odds. Use a price comparison or price-tracking site such as CamelCamelCamel to find out if you’re actually getting a good deal.You already have it: It doesn’t matter whether it’s top-notch headphones, an under-desk treadmill, or the warmest slippers ever. If you already have something similar, even a 75% discount doesn’t make it worth buying.It is outside your budget: Before you engage with any big sale event, work out how much you can afford to spend. If you’re having to take on credit card debt so you can swing a big discount, it might be to wait until you’ve got more money in the bank.
Inflation has put pressure on most people’s budgets and made it hard for some people to stay afloat financially. Sales like Amazon Prime Day can be a fantastic way to save money. Just steer clear of products that you weren’t already planning on buying and always check the prices against other sites.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Emma Newbery has positions in Amazon.com and Apple. The Motley Fool has positions in and recommends Amazon.com, Apple, Target, and Walmart. The Motley Fool has a disclosure policy.
