The longer answer: “It will depend a lot on what you’re buying,” says Aaron Cheris, head of the Americas retail practice at Bain & Company, a management consultancy firm.
Demand has been building as the nation’s COVID outlook has improved.
“Due to a lack of spending during the pandemic and the receipt of fiscal stimulus checks, consumers are sitting on a lot of savings,” said Michelle Connell, a chartered financial analyst and owner of Portia Capital Management, in an email.
Now, consumers are starting to spend again, which is contributing to rising prices for certain goods. So what’s in demand and potentially going to be more expensive? Categories that consumers largely ignored during the past year, like beauty, footwear and outdoor recreation, Cheris says. But there’s still an appetite for some popular pandemic purchases, including pet care and household products.
Inflation also has hit some categories harder than others because of supply chain snags and the cost of raw materials, such as aluminum and lumber. A shortage of semiconductor chips, which are used in major appliances, computers and other tech products, is driving up the price of those items.
But cost isn’t the only thing to watch for on Prime Day. Cheris suspects shoppers will run into more stock shortages and longer delivery times for many items due to high demand and supply constraints.
