Jeff Bezos: Amazon exceeded 100 million Prime subscribers
20 April, 2018, 01:16 | Author: Barbara Daniel
Amazon has revealed for the first time ever that its Prime members count has crossed the 100 million mark worldwide.
Amazon has more than 100 million shoppers on its Prime service that offers free two-day shipping and other perks that help bind people to the company and its ever-expanding empire. Additionally, while Bezos mentioned Amazon Fashion in the shareholder letter, he didn't mention how many people have used the recently launched Prime Wardrobe service. Amazon is losing money with its global expansion, but investors will be patient if the company is gaining Prime subscribers, he said.
Prime subscribers pay monthly or annual fees in exchange for quick delivery of online orders, music and video streaming and free online photo storage. This lack of hard detail directly from Amazon has meant that analysts in the past had to infer how many Prime members Amazon might have from surveys of customers. Last year, the company debuted NFL Thursday Night Football onPrime Video, which garnered more than 18 million total viewers over 11 games. Prime's selection in India now includes more than 40 million local products from third-party sellers, according to the letter. The updated number highlights the growth of the company's subscription service, which Amazon has pushed heavily over the years as a way to retain customers who, in turn, fuel its core retail business with each purchase. Consumer intelligence research has shown that Amazon Prime members shop on the site almost twice as often as non-prime members. "Amazon continues to have an "iron grip" on the e-commerce market heading into the rest of 2018 despite a clear bullseye on its back from retailers around the world including [Walmart] as well as the Trump crosshairs in the background", writes Ives, who maintains a Highly Attractive rating and a $1,850 price target. He also spent a fair amount of space philosophizing about teamwork, vision and high standards.
The high in subscriptions at Prime, launched 13 year ago, was among milestones from last year shared by Bezos in the letter, a copy of which was filed with United States securities regulators. "If low standards prevail, those too will quickly spread". They're investing instead in Bezos's ability to push into new markets and find fresh sources of revenue, which jumped 31 per cent past year to US$178 billion.
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