Amazon has announced when its "Prime Day" will take place, and if it's anything like last year, other retailers will follow suit with online bargains.

  • Amazon announces date for popular 'Prime Day'
  • Retailer sets Prime Day for Tuesday, July 11
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It's the third summer in a row that Amazon has created its own retail frenzy, with deals that compare to Black Friday or Cyber Monday.

Amazon Prime Day will be Tuesday, July 11, the company said.

Prime Day features what Amazon calls "lightning deals" throughout the day, when certain products are given major discounts for a limited time.

Consumers can also get free shipping.

Prime Day deals are only good for Amazon Prime subscribers, which is $10.99 per month or $99 a year.

However, if you're not a Prime member, there's still some opportunities for savings.

Last year, other major retailers such as Walmart, Target and Toys R Us also offered big discounts and free shipping on Prime Day.

Amazon says last year's Prime Day was its biggest shopping day ever, so it's likely those other retailers will be following suit again this year.