Retailers offer Black Friday-like deals in July

Some companies are having sales now to avoid landing on the growing list of ailing businesses, experts say.
2:17 | 07/10/20

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Transcript for Retailers offer Black Friday-like deals in July
All right, we're back with some surprise summer sales. The competition between major retailsers is heating up nationwide. That means big savings for customers. Erielle reshef has the details. Erielle, it's being called black Friday in July. Reporter: It is, Cecilia. There are major discounts out there right now. Stores like the gap and old Navy are offering up to 75% off of everything. Retailers now trying to lure back in consumers who may have cooled off their spending during the summer. We're used to seeing this stampede around the holidays but now retailers are stirring up sales with Black Friday summer edition. We're also starting to see a lot of Black Friday in July sales at a few select retailers. Reporter: Some of the companies advertising deals, Macy's with sales up to 70% off on everything from clothing to kitchenware and electronic, sales that we're used to seeing on the real Black Friday in November now four months earlier. The price of this lenovo thinkpad slashed more than $1,000. JCPenney advertising hundreds of deals. Clothes more than 50% off this weekend and Dell also offering savings. This laptop, $300 off. Black Friday this July got its start five years ago right around when Amazon did its first prime day sale holiday. So all these other retailers wanted to get in on the action and started having their own sales around this time. Reporter: While Amazon hasn't announced prime day just yet, experts say some companies are having sales now to avoid landing on the growing list of ailing businesses like neiman-marcus and J. Crew, both recently filing for bankruptcy. Brooks brother, the latest to follow suit earlier this week. But retailmenot says shoppers still plan on spending as much as $500 this July and as businesses re-open, stores are now looking to make room for fall inventory. The pandemic is happening and people aren't shop income stores but they are still shopping online. Reporter: And experts say there are also a lot of deals right now on appliances and grills, so if you missed the fourth of July sales, don't worry, there's still plenty to snatch up. How convenient. You're right there and you can just go shopping after this. Thank you. Stay with us, folks.

This transcript has been automatically generated and may not be 100% accurate.

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