Don't rush to buy a TV or refrigerator, so keep your money tight during the year-end sales season

Don't rush to buy a TV or refrigerator, so keep your money tight during the year-end sales season

(World) - It would be a bit surprising to hear the founder of the world's leading retail company Amazon advise people to save money.

There is just over a week left until Black Friday and Cyber ​​Monday, two days that are considered the biggest promotional events of the year not only in the US but have spread around the world. This is the time when most retailers begin their comprehensive discount promotions. Amazon, the world's leading e-commerce company, is expected to see purchases worth billions of dollars during this period. And in a recent interview with CNN, Amazon founder Jeff Bezos was asked whether he thought consumers should "cool down their shopping" in response to the global economic downturn. The answer of the fourth richest man in the world surprised everyone. “My advice to people is to take risks,” Bezos said."If you are an individual and are thinking of buying a new big screen TV, take it slow. Keep that money, see what happens. The same should be done with a refrigerator, a new car, whatever."

With spiraling inflation, rising energy costs, and constant reports of companies laying off thousands of employees, it's understandable to see Bezos making this point. But not everyone can appreciate that the world's fourth-richest man, with a net worth of $120 billion, advises people to spend less money. Although Bezos himself plans to give away most of his fortune. Bezos' proposal is also likely to upset colleagues at Amazon, which sells more than a few TVs and refrigerators. Typically, Amazon can expect a surge in deals during the final months of the year, including Black Friday, Cyber ​​Monday and Christmas. But with consumers and businesses tightening their belts in the face of rising energy and food costs, not to mention fears of an impending recession, Amazon will face a The holiday season is difficult this year. With promotional sales events and holidays, the fourth quarter is also Amazon's biggest business quarter. But the company also lowered its fourth-quarter expectations to $140 billion to $148 billion, much less than the $155 billion expected by analysts. This corresponds to a growth rate of about 2 to 8%. It should be known that Amazon saw 9% growth in the fourth quarter of last year. Amazon itself is also tightening its belt. In addition to massive business cost cuts implemented by CEO Andy Jassy, ​​the company is planning to lay off 10,000 office workers. That's slightly less than the 11,000 employees Meta is laying off, but more than the 3,700 employees Twitter is laying off. A host of other major tech companies such as Lyft, Microsoft, Snap, Tesla and Robinhood are also actively reducing employee numbers this year. Of course, the flip side to Bezos's advice is that if you're determined to buy a new TV, graphics card, laptop, or whatever, buying it at a discount during this big sale will makes more sense than having to spend more a few days later.

Reference TechSpot, Telegraph