How to find deals on Amazon Prime Day
CHICAGO - One of the most anticipated days of the year for shoppers is just hours away. Amazon Prime Day begins Tuesday.
In a FOX 32 Special "Money Saver" Report, we have some tips on how to find not only a good deal but some steals too.
At first glance, Amazon Prime Day can look like 48 hours of wall-to-wall deals. But is it? And if it is, how do you know where to look first?
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"This is one of those times when companies motivate people to spend money," said Jamie Lettis. "That’s the number one thing you want to keep in mind is there’s a reason why companies do these shopping holidays."
Lettis is the associate editor of Consumers' Checkbook, a non-profit organization that provides shoppers with detailed price ratings on various businesses across the U.S.
"We look to see are the prices you are getting really special at those times? And often times the prices are very close or exactly the same as what you might get on a normal week when there isn’t a huge sale."
While Lettis said you can find a good deal on Prime Day, she still has advice for shoppers.
"Definitely take the time to look elsewhere because other retailers also know it’s Prime Day and they want to get your business too, but you won’t know what they are offering if you don’t look," Lettis said.
So let’s start with where to find a good deal on Prime Day.
"The best deals on Prime Day are going to be on Amazon’s own products, specifically electronics," said Andrea Woroch, a consumer finance expert.
If you want to get an even better deal on one of Amazon’s electronic devices, she said consider buying one that’s been refurbished and certified.
"I think consumers may have a stigma with refurbished. That it’s junky. It’s not going to work," Woroch said. "But these retailers are inspecting them. They are putting in whatever money they have to to fix it. They are certifying it, offering you a warranty so that should give you the peace of mind you’re getting quality for a much bigger savings."
Woroch says more than just electronics will be on sale during Prime Day because third party sellers want to get in on the action too, as do other retailers.
"Ultimately, if you find something on sale on Prime Day that you want to buy, run a quick search on Google to see if one of the other competitors has a sale on that same item. They could beat it out," Woroch said.
In addition to Google, there are several other online tools that can help you find the best price, whether it’s on Prime Day or on a competitor's sale.
"You want to download a few browser extensions," Woroch said. "I have a few favorites. The first would be Price Blink. Price Blink is a great tool because it provides instant price comparison. If you are looking at something on Amazon it’ll alert you if that product is sold at another website and if you can save by buying it at a competitor."
"CouponCabin has a browser extension called the Sidekick tool and that’s really helpful because it’ll alert you if there is a coupon or cash back available for a website."
"Honey is a great tool because they have a feature called the Droplist. Add anything you want to buy to the Droplist tool and it will alert you if it goes on sale for more during Prime Day or at a competitors site."
After you've compared all the current prices for an item, you still have one more step to go to make sure you are getting the best deal.
"Amazon is promoting Prime Day as the best sale you are going to get all year. The reality is we see prices fluctuate throughout the year. And even on Prime Day, yes, it’s on sale for 30-40 percent but will it be better later in the year? If it’s not something you need right now, it may pay to wait.
You can find out by looking at CamelCamelCamel.com. Woroch says it’s a great tool because it specifically tracks prices of products sold on Amazon and it can show you historical pricing data.
It will let you know if your item has been offered at a lower price at another time during the year, like Black Friday or Cyber Monday.
"You really owe it to yourself and your bank account to take that extra time to shop around," Lettis said.
Here are a few more tips for getting the most out of Amazon Prime Day.
Check return policies before buying. A third-party seller may not have the same return policy as Amazon itself.
Download the Edison Mail app to continue tracking prices of items you recently purchased. You may qualify for an additional discount.
While Amazon Prime Day is Tuesday and Wednesday, don’t forget it’s for members only.