Shoppers who don't want to wait until Black Friday later this year to score some impressive deals may be in luck if they have Amazon Prime accounts.

The company has announced that in honor of it's 20th anniversary, it will be unveiling 'Prime Day'--a day featuring thousands of steep discounts on products across the site, solely for Prime subscribers. In an official press release announcing the event, the company has promised that the event will offer more deals than Black Friday.

"Prime Day is a one-day only event filled with more deals than Black Friday, exclusively for Prime members around the globe. Members tell us every day how much they love Prime and we will keep making it better," Greg Greeley, Vice President of Amazon Prime said in a statement. "If you're not already a Prime member, you'll want to join so you don't miss out on one of the biggest deals extravaganzas in the world."

The event is set to begin on Wednesday, July 15, with new and existing members in the U.S. finding deals as early as midnight, with new ones beginning every ten minutes. There will also be thousands of Lightning Deals, seven popular Deals of the Day and unlimited fast, free shipping as well. Categories for sale items will include Electronics, toys, movies, clothing, patio, lawn and garden, sports and outdoor items and more, to satisfy the consumer's needs for any items they may use for special occasions, or even just their everyday life.

In addition, leading up to Prime Day, Amazon is inviting members to experience their Prime Photo service, which gives them a chance to win a $10,000 Amazon Gift Card. To participate, users should capture a moment which shows how Prime enables some of their happy moments and sign into Prime Photos between July 6 and July 15 to submit it. One winner will selected in each country.

Those who are not currently Amazon Prime subscribers who still wish to participate in Prime Day can still sign up for a free trial of the service ahead of the big event.

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Amazon Prime, Amazon