The good news is shoppers with an Amazon Prime membership will get access to lots of good deals. The bad news is they'll be targeted by scammers looking to take advantage of the major shopping event. On Monday morning, the retail giant sent an email to customers warning them about a particular phishing scam on the rise.

Prime Day shopping events to entice cautious consumers and play defense against stiffer competition from the likes of Walmart Inc., Target Corp. and TikTok, who have launched their own discount days in response.