Amazon plans second Prime Day in appeal to deal-hungry shoppers

Amazon.com will hold a second Prime Day sale on Oct 11 and Oct 12 to boost sales among cost-conscious consumers who are expected to start their holiday shopping even earlier this year. This marks the first time the e-commerce giant has hosted the event twice in the same year.

Retailers are bracing for a lackluster holiday that will require deep discounts to move a glut of inventory. Many consumers, meanwhile, are planning to cut back because higher food and fuel costs have left them with less to spend.

More than one-third of consumers said they would begin their holiday shopping in October or earlier, according to a survey by Bankrate.com.