An Amazon contract worker pulls a cart of packages for delivery in New York, United States, Monday, April 22, 2024.
Angus Mordant | Bloomberg | Getty Images
AmazonThe Prime Day megasale will return on July 16 and 17, the company announced Tuesday.
Like previous years, Amazon said the event will feature millions of deals, with new discounts “as often as every five minutes during certain periods of the event.” The company will once again offer invite-only deals, where members of its Prime membership club can request an invite to access discounts on items that typically sell out quickly. Last year, it launched invite-only offers for Prime members for the first time.
Amazon launched Prime Day in 2015 to offer discounts exclusively to members of its core subscription program. Prime costs $139 per year and includes benefits like fast shipping and access to streaming services. This discount windfall is designed in part to attract new Prime subscribers, to promote Amazon’s products and services, and to boost sales during a normally slower shopping period.
The event is also a significant revenue source for other retailers, who often hold competing events during or around Prime Day. Walmart announced its own “Walmart Deals” event on Tuesday that will take place July 8-11. Target, Kohl’s And Best buy have launched similar events.
Last year, total U.S. online sales during Amazon’s Prime Day event reached a record $12.7 billion and surpassed 2022’s total of $11.9 billion, according to Adobe Analytics. Amazon said it sold 375 million items during the two-day discount event, compared to 300 million items sold in 2022.
WATCH: Amazon Prime Video lowers ad prices for competitors
cnbc
