Amazon to launch 'Prime Day' sale next week

In honor of the retailing giant's 20th birthday, Amazon is hosting a sale next week that it says will rival Black Friday.

The event, called Prime Day, is July 15, and is exclusive to Amazon Prime members. Shoppers subscribed to Prime will gain access to multiple deals on the site across several categories, said the company in a statement Monday.

New deals start at midnight July 15, with additional deals popping up every 10 minutes. Amazon has yet to offer any sneak peeks on what products will earn discounts during Prime Day.

"Prime Day is a one-day only event filled with more deals than Black Friday, exclusively for Prime members around the globe," said Greg Greeley, vice president of Amazon Prime, in a statement.

The deals are available to new and existing members of Prime, which costs $99 a year and includes access to the Instant Video streaming service, Prime Music and free two-day shipping on select items.