There is going to be a summer shopping extravaganza for consumers in July. Major retailers like Amazon (NASDAQ:AMZN) and Target (NYSE:TGT) have announced their mega-sale events. Target announced on Tuesday that its biggest summer shopping festival, Target Circle Week, will run from July 7 to July 13.
Details of Target’s Circle Week
As part of Target’s Circle Week, the retailer has announced more deals for Target Circle members, including discounts, personalized Target Circle bonuses, and early savings on back-to-school and college essentials. Some highlights include 50% off select toys, up to 40% off kitchen and floorcare items, 30% off bedding and bath, and special deals on Ulta Beauty (NASDAQ:ULTA) purchases.
Moreover, consumers can sign up for the retailer’s new paid subscription, Target Circle 360, for just $49 for the first year, compared to the regular price of $99 per year, if they sign up between July 7 and July 13.
Target’s Circle Week is coming ahead of Amazon’s Prime Day sales event, which is slated to start on July 16.
AMZN’s Prime Day Event
Meanwhile, Amazon announced that its Prime Day mega-sale event will return on July 16 and 17. Amazon stated that, similar to every year, the event will feature plenty of deals, with new discounts dropping “as often as every five minutes during select periods throughout the event.”
The e-commerce major will again offer invite-only deals for Prime members to access discounts on fast-selling items. This feature was first introduced last year. Amazon’s discount bonanza aims to attract new Prime subscribers, promote Amazon products and services, and boost sales during a slow shopping period.
Is Amazon a Buy, Sell, or Hold?
Analysts remain bullish about AMZN stock, with a Strong Buy consensus rating based on a unanimous 42 Buys. Over the past year, AMZN has increased by more than 45%, and the average AMZN price target of $221.30 implies an upside potential of 17.8% from current levels.
