Both sales are exclusive to members of the retailers’ loyalty programs. Amazon’s Prime membership costs $139 annually, though non-members can opt for a free trial in order to shop the sale. Target’s Circle program is free.
Amazon’s initial Prime Day in 2015 was a celebration of its 20th anniversary, but the e-commerce giant soon announced it would hold one every year. What Amazon may not have realized then is that most other retailers would too.
Target and Amazon on Wednesday both dropped name brands that will be tagged with price promotions. Amazon touted deals on Lancôme, Kérastase, Peloton and Victoria’s Secret, among others. Other items will be tagged with steep discounts, including 75% off one of its own Fire televisions. Target’s sale features discounts of 30% to 50% on many items and special deals on the Keurig K-Mini, a Lenovo laptop and Dyson Cordless Stick Vacuum.
It remains to be seen whether consumers are in the mood. In April, consumer confidence fell to the lowest point since July 2022, according to the Conference Board. Yet McKinsey & Company, also in April, found consumers cautious but willing to splurge. Retail sales patterns in recent months found that discretionary spending on goods has taken a hit as consumers prioritize dining out and other services.
Since last year’s sales, Amazon has also introduced an uncharacteristic pain point. The e-commerce giant now charges for some returns if a customer is close to a brick-and-mortar location that accepts Amazon returns.