Amazon Added More Than 50 Million Prime Members After Huge Holiday Season.
Prime subscriber members are one of the main contributors during the holiday season. Amazon released its fourth-quarter earnings for 2019, and the company has now over 150 million Prime subscribers, meaning 50 million people joined prime during the holiday season.
It’s no secret that people subscribe to Prime, at least its monthly version instead of its annual one, more during the holiday season than at other times in the year, to ensure that gifts arrive for the holidays. The retail giant has added more benefits to the subscription on top of Prime Video and numerous others, and this could be the reason why Amazon has had a very successful season during the fourth quarter of last year.
Last year, Amazon introduced one-day shipping to prevent consumers from shipping anywhere else. This initiative was a huge success, and it paid off for keeping Prime subscribers and adding new ones. One-day shipping comes cheap for users, but sadly not for Amazon.
In the last three months, it has been said that the company earned roughly $3.3 billion profit on sales of $87.4 billion, both of which smashed Wall Street expectations. Not only was Amazon’s retail division humming along, but its Amazon Web Services cloud computing division and its fast-growing advertising division both saw massive revenue jumps. That all helped Amazon offset its growing shipping costs. Amazon continues to build its legacy and its amazing to watch how they’ve grown.