Amazon is fastest growing marketplace in India, says Jeff Bezos

Mark Wilson  Getty Images
Jeff Bezos

Mark Wilson Getty Images Jeff Bezos

A letter which is sent to the shareholders on Wednesday, by Amazon boss Jeff Bezos said that in this 13 years of service, Amazon Prime has now more than 100 million members globally. 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 U.S. and many developed and developing countries.

Bank of America Merrill Lynch's Justin Post puts Prime memberships at 137 million by year end in his forecasts as video streaming continues to drive new users and retain existing ones. "Focusing on Prime membership is an excellent strategy for Amazon".

Amazon has remained mum on the exact subscriber accounts for years.

Amazon have revealed how many Prime members they have for the first time ever and it is a lot of people.

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Subscriptions to Prime, which launched 13 years ago, cost $99 in the U.S., and come with fast, free shipping as well as online access to movies and television shows. He also spent a fair amount of space philosophizing about teamwork, vision and high standards.

The company additionally is utilizing Prime to spur more sales at Whole Foods, by offering two-hour delivery of groceries to the subscribers. Bezos said in the letter, "The mobile shopping app was also the most downloaded shopping app in India in 2017, according to App Annie".

The power of Prime members is pronounced: They spend roughly twice as much as nonmembers, Ives says.

Additionally, Amazon said that there are now more than 30,000 skills for its Alexa voice platform from outside developers.

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Amazon also expanded its slate of programming across the globe, with new seasons of "Bosch" and "Sneaky Pete" from the U.S., "The Grand Tour" from the United Kingdom - hosted by the former team from BBC's "Top Gear" - and "You Are Wanted" from Germany.

He then writes about how high standards play a huge role in accomplishing this goal, although the company has gone through ups and downs.

CNBC reported that Bezos revealed the numbers of the members of Amazon Prime worldwide.

"So, the four elements of high standards as we see it: they are teachable, they are domain-specific, you must recognize them, and you must explicitly coach realistic scope".

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Apple, Inc. (NASDAQ: AAPL) took only about four years to sell 100 million iPhones after launching the groundbreaking device back in 2007.

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