The simplest alternative to Amazon Prime Day is to ignore it altogether. If you don’t actually need anything, then buying products on Prime Day isn’t really a deal. In fact, Amazon uses a host of behavioral psychology tricks to get consumers to spend, the most important being the fear of missing out, Tom Meyvis, a professor of marketing at New York University’s Stern School of Business, told CNBC.
Prime Day is an “exclusive” day of deals for members who pay $119 per year to have access to Prime. But even if you aren’t a member, it can feel unavoidable because details about the event appear to be everywhere.
And within Prime Day, “Lightning Deals,” which are only available for a short amount of time, are meant to encourage impulse shopping. If a “deal” is going to disappear quickly, you don’t have time to really consider whether you need something and what it will add to your life.
Ignoring or unsubscribing from retailer emails over the next few days could end up saving you more money because you won’t be tempted by seeing the so-called deals in your inbox.
If you are thinking about buying something that wasn’t on your radar before Prime Day, consider instituting a 24- or 48-hour freeze before making the purchase. You might miss out on the deal, but chances are if it wasn’t on your shopping list before Monday, you don’t actually need it.
And if you’ve filled up your shopping cart and are getting ready to make the purchase, think of the total in terms of how many hours it would take you to pay it all off. If you earn $1,000 per week and your purchases add up to $200, ask yourself if they’re worth a full day of work. The answer might be no.
For more of CNBC Make It’s Prime Day coverage, check out the following articles:
Don’t make these 6 common mistakes and do Amazon Prime Day rightHere’s what experts predict will be the best deals during Amazon Prime DayHere’s how to shop Amazon Prime Day
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