Amazon says Prime Day will run July 16 and 17

Amazon's Prime Day mega sale event will return on July 16 and 17, the company announced Tuesday.

Like in previous years, Amazon said the event will feature millions of deals, with new discounts dropping "as often as every five minutes during select periods throughout the event."

The company said it will once again offer invite-only deals for which members of its Prime subscription club can request an invitation to access discounts on items that typically sell out fast. It first rolled out invite-only deals for Prime members last year.

Amazon launched Prime Day in 2015 to offer discounts exclusively to its mainstay subscription program members. Prime costs $139 per year and includes perks such as speedy shipping and access to streaming services. The discount bonanza is partially designed to attract new Prime subscribers, to promote Amazon's products and services and to provide a sales boost during a normally slower shopping period.

The event is also a big revenue driver for other retailers, who often hold competing events during or around Prime Day. Walmart on Tuesday announced its own "Walmart Deals" event that runs July 8 through July 11, while Target said it would host a weeklong discount event from July 7 to 13. Best Buy is also running a "Black Friday in July" promotion from July 15 to 17.

Last year, total online sales in the U.S. during Amazon's Prime Day event hit 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, up from 300 million in 2022.