Amazon has successfully invented a new shopping holiday, a kind of Black Friday in July. The e-commerce giant and its retail competitors are set to capitalize on shoppers dishing out on everything from clothes to televisions next week.
Amazon Prime Day will return for the fifth time starting Monday at midnight PT, and this year the discount event will run for two full days. Amazon says it will launch new deals as often as every five minutes, encouraging Prime members to keep returning to the site.
“No doubt Amazon Prime Day will be another blockbuster event for Amazon, especially as it has increased the length and it seems to be working even harder with suppliers to secure deals,” said Sucharita Kodali, analyst at Forrester Research.
Amazon’s global sales for Prime Day are expected to hit $5.8 billion over the two days, estimated Coresight Research. Last year, Amazon generated $3.9 billion on Prime Day, according to Coresight. Amazon, which raked in $232 billion in sales last year, does not break out revenue on Prime Day.