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If you have free time to look up from the beach to read, float in the pool, or drink a cabana this summer, it might be wise to open up your browser and take a look at the deals going on.
Savings events and promotions were common around the holidays; Shoppers will rush in after Thanksgiving for the best chance to score a TV or a pair of sneakers for a fraction of the typical retail price.
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But nowadays, the deals are coming earlier. Amazon (Amzn) It first started running the now-famous Prime Day event in 2015. The event started as a way to celebrate its 20th anniversary and originally only lasted 24 hours.
But the sales event was a huge success, and Amazon could only do what successful retailers do best: expand, iterate, and expand some more. Prime Days (which still only run for a limited 48 hours) now features events like concerts and livestreams as well as countless items on sale.
The event generates so much interest (and revenue) that it is now considered one of the most important events on the retail calendar. But it’s not just for Amazon and Prime members.
Amazon Prime Days competition breeds competition
Amazon generated a record $12.7 billion in sales from its July Prime Days event in 2023, according to Adobe. Amazon, for its part, claims to have helped customers save $2.5 billion through its deals and promotions that day. It also says the home, fashion and beauty sectors have been the most successful, with the following best-selling products:
- Fire tv stick
- Laneige glossy lip balm
- Apple AirPods headphones
- BISSELL Little Green Portable Deep Cleaner
With so much potential money on the table, it’s easy to understand why other retailers might want to join the trend.
Both target (TGT) And Walmart (And die) They hosted their own versions of Prime Day, called Circle Week and Walmart+ Week respectively, in 2023. Both retailers’ events lasted slightly longer than Prime Days, with deals appearing and lasting for about seven days, as opposed to Amazon’s two days.
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Walmart has already kicked off Walmart + Week, running its now-recurring summer event from June 17 to June 23. Walmart did not comment on how successful Deal Week was, though Walmart US CEO John Furner told analysts on a May earnings call that the promotion was a top priority for the retailer.
More from Walmart:
- Walmart raises the price of basic service
- Walmart launches inexpensive brands that customers will love
- Some Walmart stores are making sudden changes to their self-checkout process
“We think it’s a great solution for customers, and it’s been exciting to see the progress,” he said.
Target gets summer sales
Amazon’s competition for running its own promotional events before peak days is growing in popularity. This makes sense. It’s an attempt to capture some consumer enthusiasm for summer sales before Amazon posts its own merchandise for sale.
Target said Tuesday it will run Target Circle Week just a few days before Prime Days, from July 7-13.
Amazon Prime Days will run from July 16-17.
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Target’s deals will start at 3 a.m. ET on July 7 and will include the following promotions:
- Up to 50% discount on selected games
- Up to 40% discount on selected kitchen and home items
- 30% discount on selected clothes
- 30% discount on selected bedding and bath products
- 20% discount on selected skin care products
- Buy one get one 50% off your favorite summer food and drinks
- Spend $50 on home care products and get a $15 gift card
- Spend $40 on select products at Ulta Beauty at Target and get a $10 gift card
These discounts are available to members of Target Circle, a free tier of the retailer’s loyalty program. Members of Target Circle 360, which costs $49 annually and works similarly to an Amazon Prime membership, enjoy greater perks, including same-day delivery via Target’s Shipt service.
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