Finance

More than 100 Million Amazon Shoppers Pay for Prime Membership

More than 100 Million Amazon Shoppers Pay for Prime Membership

Amazon Prime service has over 100 million subscribers, is what Amazon CEO and founder Jeff Bezos has revealed in his annual shareholders letter.

Bezos shared the news via the company's annual shareholder letter. With its new emerging products such as Appstore, Amazon Echo, Amazon Kindle, Amazon Prime, Amazon Video, Amazon music much needed in the developing internet world, Amazon withholds a strong place in the competitive retail market in the US and many developed and developing countries.

Amazon Prime is still growing.

Amazon over the last few years has expanded its distribution capabilities in the St. Louis area, most recently announcing a new distribution facility in St. Peters, where it will hire 1,500 new workers.

Bezos also bragged about Amazon's recent marketing campaigns, including its Prime Day event in July. The writes, "Bezos also disclosed for the first time that Prime now exceeds 100 million members worldwide". Because many subscribe to Prime for its free two-day shipping, it's near impossible to tell how many people are actively using the video service, and Amazon has yet to give specific numbers on the service, which it uses as a way to lure in customers to its e-commerce site.




The only solution to this problem is to keep "high standards" across everything you do, he said.

Indeed, Bezos' constant need to offer more was confirmed earlier Wednesday, with the news it had teamed up with Best Buy to sell new Fire Edition Smart TVs.

United States e-tailer behemoth Amazon is now fastest growing marketplace in India and has registered rapid growth in its Amazon Prime subscription service, said Amazon founder and CEO Jeff Bezos. "And while I certainly can't do a handstand myself, I'm extremely proud to share some of the milestones we hit last year, each of which represents the fruition of many years of collective effort", said Bezos.

Although providing free two-day shipping to Prime orders obviously drives up Amazon's costs, the service so far has proven to be worth the expense. Bezos said in the letter, "The Amazon.in mobile shopping app was also the most downloaded shopping app in India in 2017, according to App Annie". An American entertainment company, Netflix reached 125 million subscribers worldwide, charge around $120 for its video-streaming service.