Amazon Prime membership has reached more than 100 million paid prime members globally, according to founding founder and CEO Jeff Bezos
annual shareholder letter – published since 1997 and widely required reading among executives and business leaders Viewed all over the world, Bezos ranked the 100 million mark as one of Amazon's most important milestones last year. In 2017, Amazon shipped more than five billion items to Prime worldwide, Bezos wrote, and Prime gained more new members than in any previous year. (Bezos owns The Washington Post.)
The number of prime subscribers for years has been a top secret and subject of much speculation. The number also confirms that Prime is one of the world's largest Internet subscriptions and a giant among online retailers. Netflix has 125 million subscribers by comparison.
It also indicates a deep source of revenue for the company. Calculating how much money Amazon has earned through his Prime membership is not as easy as multiplying the cost of an annual $ 100 membership by $ 100 million, because some people, such as students, have the option of pay less Pay a good deal more for a monthly subscription.
But what is clear is that a Prime Account members time and again for more than buyers comes to rely on the convenience of online browsing and free two-day shipping to more than 100 million items. Prime members also have access to features such as prime videos, songs and e-books.
The real money, however, lies in the purchasing power these buyers exercise: Prime members reportedly spend an average of $ 1,300 a year on Amazon out of $ 655 for their non-member customers.
Nonetheless, some members of Prime membership are skeptical, which prevents buyers from checking prices elsewhere and shaping consumer habits.
Michael Levin, partner and co-founder of Consumer Intelligence Research Partners, said the number was at the same level with its growth estimates. At the end of September, Levin said Prime alone has an estimated 90 million US members
"It would be perfectly logical for us to have over 100 million global members based not just on that number, but on everything else." "In this letter, Bezos has highlighted 2017 as the best year for hardware sales, including buyers buying tens of millions of echo speakers.
He took a philosophical turn: to emphasize the importance of high standards, Bezos described a friend so determined to master a handstand that she hired a handstand trainer, as described by Bezos, the coach offered the advice that most people believe they work hard in about two weeks The skill lasts about six months, and those who focus on a two-week timeline will simply stop, the coach said.
"Unrealistic beliefs about scope – often hidden and not discussed – kill high standards" "wrote Bezos." To achieve high standards yourself or as part of a team, you must have realistic beliefs about it Bring and proactively convey how difficult something will be – something this trainer understands well. "
Brendan Witcher, chief analyst at Forrester, said the number of subscribers made it clear that Amazon's" more and more reasons for consumers to become prime members
"Other companies focus on revenue and how much revenue is growing," said Witcher. "Jeff has a very good view of the world, a healthy view of the world that recognizes that loyalty to your brand generates revenue, and not necessarily the other way around." Focusing on Prime membership is a great strategy for Amazon. " Read more:
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