Amazon's second annual Prime Day will take place on July 12th, the company announced today, and will become the biggest Amazon sales event ever, with more than 100,000 price cuts for Prime subscribers around the world. The retail giant is also planning to run countdown deals in the week running up to Prime Day 2016, kicking off with a 32-inch TV and bundled Fire TV Stick available for $119.99 on July 5th.

Last year's Prime Day beat Black Friday

Prime Day was introduced last year on Amazon's 20th birthday, and while it didn't boast the same deep cuts on consumer electronics as events like Cyber Monday, it proceeded to drive more sales than any of the company's previous events — even beating Amazon's 2014 Black Friday. In addition to a 266 percent increase in orders over the same day in 2014, 2015's Prime Day also spurred more people to try Prime than ever before — the decision to make its own holiday giving another marquee sale to help Amazon secure valuable $99-a-year subscriptions from its customers without competition from retailers like Best Buy.

This year's sale promises more deals than any other Amazon event in history, with two times as many TV deals as Black Friday and Cyber Monday combined in the US. Full details of these deals haven't arrived yet, but if you can't wait until this fall for a spending spree, and if you haven't used your free 30-day trial for Amazon Prime just yet, this week might be a good time to sign up.