Until yesterday, the total number of Amazon (NASDAQ:AMZN) Prime subscribers had been somewhat of a mystery before Jeff Bezos revealed that the tech giant had crossed 100 million paid subscribers globally. Morningstar Inc. analyst RJ Hottovy says that while Amazon is losing money on global investments, success with Prime will make investors more patient with the e-commerce giant.
As CNN points out, Bezos has in the past been a bit cagey when it comes to announcing Prime membership figures and previous estimates had it around 90 million, which we guess came pretty close to the official figures. "Focusing on Prime membership is an excellent strategy for Amazon". Amazon shares are up almost 70 per cent in the past year, nearly five times the gain in the Standard & Poor's 500 Index.
In a letter to its shareholders, Bezos said that India still remains the company's most important market outside its home turf. Amazon reported this number for the first time under a new requirement that companies disclose the gap between pay for the rank-and-file and the person in the corner office. This includes access to free two-day shipping from Amazon, free and unlimited access to Amazon Prime Video streaming service, access to exclusive lightning deals, etc.
"Our new jobs cover a wide range of professions, from artificial intelligence scientists to packaging specialists to fulfillment center associates", Bezos wrote.
The company additionally is utilizing Prime to spur more sales at Whole Foods, by offering two-hour delivery of groceries to the subscribers.
Bezos also touched on the growth of several big segments, including Amazon Fashion. The company also has more than 2,200 employees in Edwardsville and several hundred in Hazelwood. Amazon CEO Jeff Bezos said in a letter to the shareholders, importance of maintaining high standards in terms of running a business is increasing. "High standards are contagious". The company last year expanded Prime to Mexico, Singapore, the Netherlands, and Luxembourg last year, in addition to the U.K., Germany, Austria, India, Japan, Italy, Spain, and France.
"Unrealistic beliefs on scope - often hidden and undiscussed - kill high standards". He did note that Amazon Fashion "has become the destination for tens of millions of customers".