Amazon’s big annual sales event, Prime Day, is increasingly looking like Black Friday in July.
In fact, Macy’s answer to Prime Day is called exactly that. Macy’s “Black Friday in July” event, which is on now through July 15, touts a long list of deals across clothing, beauty, kitchen appliances and other categories at Black Friday prices.
Amazon’s other retail rivals are also racing to claim a piece of the mid-summer shopping frenzy this year as Amazon’s fourth Prime Day nears (July 16).
Walmart, which is aggressively expanding its e-commerce platform, is advertising deep discounts on a wide range of products. Some TVs are even cheaper than they were on Black Friday, according to Money magazine.
Target is offering up to 30 percent off on home products and electronics, up to 20 percent off on clothes and accessories, and a steep discount of up to 50 percent on toys, a category Target has been vying to dominate after the shutdown of Toys “R” Us.
Besides big-box retailers, Amazon also faces intense competition from Nordstrom, whose highly popular annual sales event is ongoing through July 19. Historically, the two retailers didn’t have much overlap in their target consumer bases. But as Amazon strived to break into the fashion industry with its expanded clothing offerings and technology-infused fashion consulting services, threat from established department stores like Nordstrom became more and more real.
Prime Day has proven to be a huge success for Amazon. Since its launch in 2015, revenue from the single-day sale event has increased over 60 percent every year. Wall Street analysts expect this year’s event to bring in over $3.5 billion in sales for the company.
Sensing the heated competition, Amazon has added a number of extra deals for the first time. This year, Prime members were offered exclusive discounts on selected products, including Amazon’s own fashion lines, for a week before the actual Prime Day. For every $10 spent at Whole Foods Markets, Prime members can also get a $10 credit to spend on Amazon.com.