Amazon's made-up holiday is forcing other retailers to offer crazy sales
- AmazonPrime Day is putting pressure on major retailers such as Target, Macy's, Walmart, and JCPenney to offer massive Black Friday-style sales in July.
- Some of these retailers are offering as much as 30% off certain products and departments.
- Others, such as Home Depot, Staples, Best Buy, and Bed Bath & Beyond, have said they will price-match Amazon Prime Day deals.
Amazon Prime Day is forcing major retailers like Target, Macy's, and JCPenney to offer massive Black Friday-style sales in order to keep up.
Target, for example, is kicking off a sale on Tuesday — while Prime Day, which begins Monday, is still ongoing — offering discounts of 30% off Target-exclusive home brands, select baby gear, and Google products, as well as 25% off beauty and personal-care items.
JCPenney, meanwhile, held its biggest two-day sale this week, ahead of Prime Day, and will hold another three-day promotion, called "Cyber-in-July," starting on Monday.
Macy's is holding a "Black Friday in July" promotion this week, offering 25% off most of the site, and Lowe's is offering 10% off sitewide on Monday and Tuesday for new and existing MyLowe's Customers. Lowe's is also giving out free Google Home Mini devices to shoppers who spend more than $150 on Lowes.com.
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According to Money magazine, Walmart is currently beating its Black Friday deals by offering bigger discounts on certain TVs.
In addition to running their own promotions, many retailers will price-match Amazon's Prime Day deals. These retailers include Home Depot, Staples, Best Buy, and Bed Bath & Beyond.
Prime Day, in its fourth year, is still a long way from catching up to Black Friday in terms of total sales, however. Cowen & Co. estimates that Prime Day generated about $1 billion for Amazon last year, while e-commerce sales totaled $5.03 billion on Black Friday, according to Adobe.
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Amazon Prime Day is killing Black Friday