Amazon's annual Prime Day kicks off on June 21 and ends on June 22.
Amazon's $(AMZN)$ annual Prime Day is just around the corner -- but before you click "buy now" you may want to reconsider whether or not you're getting a good deal.
Prime Day (June 21-June 22) is a sales event opened exclusively to Amazon Prime Members. (It costs $12.99 per month or $119 per year to sign up.)
Amazon Prime is currently advertising 20% off select books, 4 months free of Wondery+ premium podcasts, and 20% off beauty, and other home products. It also promises discounts of up to 50% on Amazon devices.
There's a chance Amazon will run a separate additional Prime Day later this year in October, said Pete King who runs a YouTube $(GOOGL)$(GOOGL) channel for Slickdeals, a site where users post deals they come across.
But Amazon spokesperson Victoria O'Dierno declined to comment, labeling talk of a second separate Prime Day "speculation."
Just because Amazon publishes a "Lightning Deals" page with items that appear to be steals doesn't mean they are a steal by any means, said Kristin Cook, managing editor for BensBargains.com .
One way to find out whether or not you're getting a good deal is to copy and paste the item's URL on CamelCamelCamel.com , a site that tracks prices for items listed on Amazon.
There, you can also set up email alerts that will alert you if/when a product drops to the price you enter.
But if the item you're interested in buying on Prime Day is already below the average price listed on CamelCamelCamel, Cook says it's OK to go ahead and press buy.
This year's Prime Day is also unique from prior ones given the global microchip shortage, which is disrupting the manufacturing supply chains for cars as well as gaming equipment and computers.
Hence consumers shouldn't expect to see any markdowns on highly sought-after PS5s (6758.TO), Nintendo Switches or higher-end computers, retail experts told MarketWatch.
Here are 4 other items to think twice before buying on Amazon Prime Day:
Furniture and clothing
Consumers may want to postpone home goods purchases until July Fourth sales events kickoff, said Kristin McGrath, editor and shopping expert at BlackFriday.com
That's because "so many mattress stores run sales and furniture stores run July Fourth blowouts," she said. But it's still worth checking to see if there are any good deals bearing in mind that discounts may only apply to a "certain-size bed frame" or a couch in one particular color but not the others.
The same applies to clothing.
"We've seen past Prime Day deals where a shirt is discounted but it's only discounted in a certain color and it's sold out of most sizes," McGrath told MarketWatch.
In general, the best time to get discounted clothing is when seasons change, she added.
Typically, "retailers across the board offer free shipping, promo codes for up to 40% off everything" when the seasons change.
TVs and gaming systems
On Prime Day, consumers shouldn't expect to see TVs "discounted across the board," McGrath said. "Amazon is going to be plugging its Fire TVs, but there's certainly not going to be the absolute best prices on the absolute best models," she added.
Right before the holidays is a better time to get a good deal on a TV because "they're very giftable items," so retailers tend to offer discounts across a wider range of models.
But if you do come across a good deal on a TV you make sure you know which year's model you're getting.
Oftentimes "consumers unknowingly buy outdated products thinking they're getting a discount when there is actually a newer model available," King told MarketWatch. "In the same vein, you'll also want to read reviews on TV models."
During the holiday season, Amazon and other retailers are more likely to offer bundling. For instance, you may be able to find a bundle that includes video games, gaming accessories and a bonus gift card, McGrath said.
Prime Day vs. Walmart and Target
It's nearly impossible to know in advance if shoppers could save more money through Walmart's Deals for Days $(WMT)$ promotional event, Target's Deal Days$(TGT)$ or Best Buy's $(BBY)$ Bigger Deals.
(Target declined to comment, and Best Buy did not respond to a request for comment.)
But this isn't the first time these companies have competed head-to-head with Prime Day.
In the past, Walmart's competing promotional event (June 20 to June 23) has been "disappointing," Cook told MarketWatch, "There usually isn't that much that's actually on sale," she added, "but I could be wrong maybe they'll switch it up this year."
Walmart told MarketWatch that Hisense's 40" Class FHD Roku Smart LED TV was listed for $239.99 on Amazon, as of Tuesday evening.
Target's Deal Days event (June 20 to June 22) tends to be "pretty good," Cook said, but oftentimes Amazon will match Target's deals "within a couple of hours." The same applies to Best Buy's event (June 15 to June 22).
But the same cannot apply to Target-exclusive brands of clothing and home goods, so there's a good chance the company will offer its best discounts in that area, she said.