“Prime Day was launched to create a sales event and get people spending in the otherwise quieter summer months. It has plenty of bargains on offer, but some traps too.
“In fact, we’ve seen prices for the same items lower in the weeks before the big day than during the sale itself - meaning you could pay more than normal for some items, despite the discount.
“The good news is you can check. The Amazon price tracker website camelcamelcamel allows you to look at price trends over a long period of time. Ask yourself if this really is the bargain that’s being claimed.
“Always make yourself a budget, and do not go over it. Getting caught up in the adrenaline of bargain hunting can be a costly mistake, so try to keep cool, calm and collected (despite the heatwave) to avoid overspending.
“For families battling the cost of living crisis, this could be an excellent opportunity to lower the cost of Christmas. Order the kids their presents now and find a good hiding place to keep them stashed until December. Bear in mind some retailers drop their prices on Black Friday in November and pre-Christmas sales in December so only spend if you are confident the saving is good enough.
“As well as a good opportunity to save cash on big products like TVs and white goods, it can also be a good opportunity to stock up on low priced day-to-day essentials like dishwasher tablets, razors and batteries. Fairy Liquid and dishwasher tablets feature this year, for example. Just make sure you check the price per unit or litre with a supermarket site or two to make sure it’s really a good deal.
“The one area where you're guaranteed a decent deal is on discounted Amazon own-brand products like Kindles and Echos. In fact it’s one of the only times these items are reduced in price, so if you’re in the market for one of them, it’s a great time to buy.
“And be aware you don’t need to spend £79 on an Amazon prime subscription to land yourself a place in the queue.
“You are far better off signing up for a 30-day free trial and then cancelling your membership before the charging period begins.”
James has spent the past 15 years writing and editing personal finance news, specialising in consumer rights, pensions, insurance, property and investments - picking up a series of awards for his journalism along the way.