“We expect Prime Day will pull discounting and sales forward,” Patrick Brown, Adobe vice president of growth marketing and insights, said.
To compete, other retailers like Walmart, Kohl’s, Macy’s and Target are all having multi-day early sales.
Brown said consumers will likely see discounts online as high as 15% this month, up from an average 10% during last year’s early days, as retailers contend with overflowing inventory and a softening consumer spending environment.
Expect consumers to get a reprieve from inflation because retailers might start to feel the pressure and aggressively discount to dump inventory.
At the start of summer, retailers like Target and Walmart already said they had too much inventory. When shipping was clogged, they ordered more hoping to get some and then when ports unclogged, all the merchandise poured into their warehouses. They said they would slash prices over the summer to move inventory and make room for holiday merchandise.
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