To celebrate its 20th birthday, ecommerce titan Amazon is holding its first ever prime day today, Wednesday July 15, 2015. The 24 hour sales event promises discounts that rival those of Black Friday, the measuring stick for single day retail promos. The catch? Prime day is, as the name suggests, only available to subscribers of Amazon's prime subscription service.
Some of the benefits of being a Prime member include faster shipping, unlimited access to Amazon's video and music streaming libraries, and a whopping 500,000 free Ebooks for owners of the Kindle, the company's tablet and E-reader. However, the arrival of Prime Day is perhaps the most compelling reason to fork over the $99 a year subscription fee.
Last night, Amazon took to Twitter to tease some of the special deals that await Prime users. Some of the promos teased include 40 inch LED TV's for $115, Kindle Fire HD 7's at $60 off retail, and automated Roomba vacuum cleaners for under $300. Amazon is saying deals are time sensitive and will be refreshed every 10 minutes, so users will have to keep their eyes peeled and act fast when something from their wish list goes on sale.
Despite the huge fanfare for the event, some experts believe that Prime Day still has a long way to go before toppling Black Friday as the king of sales events. Speaking with Forbes Magazine, Shopatron CEO Ed Stevens said:
"Prime Day will in no way replace Black Friday. The primary reasons for this include the amount of consumer discretionary dollars in July will not change. Consumers are most motivated to spend their money when it's associated with an event, and most holiday sales are centered around a sentimental or emotional gift giving component."
