Advertisement

Extra inventory, millennials driving Amazon Prime Days and Target Deal Days

Updated: July 15, 2019 06:57 PM

Amazon Prime Days has started and it's fantastic news for consumers. More companies than ever, like Target, Walmart and Best Buy, are challenging the online shopping behemoth with sales of their own.

"And now summer is over," said Larry Collette from Metropolitan State University. "And then, at the same time, it's going to give a bargain to the consumer because they're going to get some very good prices."

Advertisement

Collette is a business consultant and teaches strategic management at Metropolitan State University.

According to Collette, the Fourth of July is the end of summer for big companies. They've got extra inventory and they want us to buy it. Everyone is offering sales under the banner of back-to-school shopping.
    
Collette said CEOs are earning their big salaries. Companies need to move their products fast because profit margins are smaller than ever. 

"This has got to be an incredible challenge for management and leadership; in what they do, in that whole world they're trying to achieve their profitability, sustainability and competitive advantage," Collette said.

The competition adds up to great news for consumers, because if you check the deals, it's actually a lot more than back to school items that are on sale.

Another thing driving the mid-summer online sales is the buying power of millennials. According to Collette, millennials as a whole now spend more money than baby boomers.  And, they like to shop online.

"I mean, they're talking the millennials are spending 200 billion dollars a year, plus," said Collette.

A lot of millennials are two income families. They use their smartphones to do research, read reviews and look for bargains. 

Collette believes they are very educated consumers.

"They want the self-service checkout. And they really aren't interested in the personal service; whereas you go into a store and you'd say, 'how can I help you?' They don't really need that or want that. They've already done the research."

Collette said 40 percent of online shopping is done with a smartphone. And, whether you're looking for deals at Amazon, Target, Best Buy, Walmart or any of the hundreds of companies with online sales, many offer free shipping. Add it all up and it's easier than ever to find a bargain.

Connect with KSTP


Join the conversation on our social media platforms. Share your comments on our Facebook, Instagram, and Twitter pages.

Credits

Kevin Doran

Copyright 2019 - KSTP-TV, LLC A Hubbard Broadcasting Company

Advertisement

Woman sexually assaulted by another woman at GOP booth at State Fair

Minneapolis home raided after repeated reports of alleged dogfighting operation

St. Paul mayor says November's trash collection vote could lead to property tax increase

A new Fire Station 1 in downtown Minneapolis is on the horizon

Markets tumble on growing tariffs rift between US, China

So Minnesota: Peacebunny Island

Advertisement