What is Amazon Prime Day?
Fox Business Flash top headlines for July 7
Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.
Prime Day has been dubbed Amazon's biggest shopping event for Prime members around the globe.
Continue Reading Below
Last year, Prime Day spanned two days — July 15 and 16 – offering subscribers a "parade of deals" around the world, according to the shopping behemoth. The shopping event was the longest to date since it first emerged.
Amazon initially launched the program in 2015 as a way to celebrate the company's 20th birthday. Every year since it has vigorously drummed up sales during sluggish summer months. It has also lured droves of shoppers into signing up for the company’s membership program.
AMAZON HITS $1.5T MILESTONE FASTER THAN APPLE AND MICROSOFT DID
On the eve of Amazon's 20th anniversary, the company initiated Prime Day with one goal: to offer more deals than Black Friday but only for members of its subscription service.
The very first event lasted 24 hours, taking place throughout the U.S., the UK, Spain, Japan, Italy, Germany, France, Canada and Austria, Amazon said.