Consumers are even shying away from Amazon's 48-hour Prime Day shopping event due to surging inflation, according to a new report.
summer salesAccording to a recent survey from Adobe Commerce, 24% of shoppers do not plan on partaking in Amazon's 48-hour shopping event, which is slated to kick off next month, because of inflation.
About 20% of those surveyed are holding off because they are spending money only on necessities and another 15% are trying to put extra money into their savings, according to the data. to a new four-decade high in May. Consumer prices surged 8.6% in May from a year earlier, faster than April’s year-over-year increase of 8.3%.
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