Amazon has announced that Prime Day will take place on July 16 and 17.

• The Amazon Prime Day mega sale is scheduled for July 16 and 17.
• The loyalty club of Amazon's $139-per-year membership will have "millions" of deals during the two-day discount event.
• Rival retailers benefit significantly from the event, which often prompts them to compete with discounts during Prime Day.

The company announced that Prime Day, its mega sale event, will take place on July 16 and 17.

As in previous years, Amazon announced that the event will include millions of deals, with new discounts being released "every five minutes during select periods."

Last year, the company introduced invite-only deals for Prime members, and now it is doing so again. These deals offer discounts on items that sell out quickly, and members of the Prime subscription club can request an invitation to access them.

In 2015, Amazon introduced Prime Day, a day dedicated to offering exclusive discounts to its Prime subscription program members. For $139 per year, members receive benefits such as fast shipping and access to streaming services. The event aims to attract new subscribers, promote Amazon's products and services, and boost sales during a typically slower shopping period.

In years past, Walmart, Target, and Best Buy have launched similar events to Walmart's "Walmart Deals" event, which runs July 8 through July 11.

In 2022, Amazon's Prime Day event generated a record $12.7 billion in online sales in the U.S., surpassing the previous year's total of $11.9 billion, and saw the sale of 375 million items, up from 300 million in 2021, according to Adobe Analytics.

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