Home United States USA — Financial A second Prime sale shows Amazon is nervous about the economy too

A second Prime sale shows Amazon is nervous about the economy too

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Anxious about inventory stockpiles and fading consumer confidence, Amazon, Target and Walmart are all doing holiday sales earlier than usual.
Holiday bargain shopping is starting extra early this year. And that could be good news for shoppers, even if it signals slightly worrisome things for the economy.
E-commerce giant Amazon announced plans Monday for “a new two-day global shopping event” exclusive to members of its Prime loyalty program. Dubbed Prime Early Access Sale, the promotion is similar to Prime Day, the annual sale held in July to generate a bonanza of orders and new subscribers.
Rival retail giants Wal-Mart and Target have already signaled plans to kick off holiday sales earlier than ever, setting the stage for a long holiday shopping season with significant discounts. With warehouses and store shelves suddenly full of inventory after two years of supply chain disruptions, deals will be easier to come by than they have since the start of the COVID-19 pandemic, say retail experts.
“It is absolutely good news for consumers,” said Mark Mathews, vice president for research, development and industry analysis for the National Retail Federation, a trade group for the nation’s retailers. “Now all of a sudden we are almost back to pre-pandemic times when you have too much of this, too much of that so you have to discount.”
Amazon’s bonus sales event may be a sign that retailers are concerned that Americans will keep a tight grip on their wallets this holiday season because of fears over inflation, rising interest rates and predictions of an oncoming recession.

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