Amazon's new Prime Day-like event begins Transcript

Speaker 1: (00:00) Amazon.com kicked off its second major sales event of the year, Tuesday. The two day Prime early access sale aims to fire up the holiday shopping season and Woo customers hit by the cost of living crisis. The event is much like the Prime Day summer marketing blitz. It will compete with early discounts from rival retailers like Walmart and Best Buy. Walmart is holding a rollbacks and more sale event from October 10th to 13th to counter Amazon's discount days. It will have deals on almost everything from Hot Wheels Toys to Luggage. Best Buy's 48 hour sale also runs on the same days as Amazon's event. The discounts could appeal to consumers hit hard by a cost of living crunch. Retailers have already been offering big price reductions to clear stock that built up as consumers cut back. Now, inflation and further discounting are expected to slow holiday spending for the year. One analyst projects U.S. online holiday sales are expected to rise this year at their slowest pace since at least 2015. Adobe Analytics said sales will grow only two and a half percent to $209.7 billion.