Amazon announced on Tuesday (June 25) that Prime Day, a super promotion event, will take place on July 16 and 17.
As in previous years, Amazon stated that the event will feature millions of promotional items, with new additional discounts occurring every five minutes during specific time periods throughout the event.
The company also mentioned that special offers will be provided to invited Prime members only, which often leads to products selling out quickly. Last year, Amazon introduced these exclusive Prime member offers for the first time.
Prime Day was launched by Amazon in 2015, specifically targeting premium members who pay an annual fee of $139, which includes benefits like fast delivery and streaming media services.
Part of the purpose of this “discount feast” is to attract new premium members while promoting Amazon’s products and services. Prime Day promotions are typically scheduled during less busy shopping periods.
This event also brings a peak in revenue for other retailers competing with Amazon, often holding competitive promotions during or around Prime Day. Walmart announced its own “Walmart Sale” event on Tuesday, scheduled for July 8 to July 11. In recent years, retailers like Target, Kohl’s, and Best Buy have launched similar events.
According to Adobe Analytics, last year during Amazon’s Prime Day promotion event, online sales in the United States reached a record $12.7 billion, surpassing the $11.9 billion in 2022. Amazon reported selling 3.75 billion items during the two-day promotional discount event, exceeding the 3 billion items sold in 2022.