Amazon is an acclaimed e-retailer, which is also the world’s largest of its kind. Amazon, in the last few decades, has transformed itself into a household name. Amazon started as a small independent business venture, established by Jeff Bezos. Amazon.com came out as Cadabra in 1995. Today Amazon is worth 900 billion dollars. The website started as a seller of books and Compact Disks. Today, Amazon Prime deals with more than 30 categories of products online. These include grocery, electronics, software, hardware and tools, and several more.
Amazon Prime
Amazon Prime is a yearly membership program, launched by Amazon for its members. It initially launched in February of 2005. Today, Amazon prime boasts a whopping subscriber base larger than 150 million worldwide as of January 2020.
Membership Program in Amazon Prime
The yearly membership program offered by Amazon facilitates the users with access to exclusive benefits. These benefits include exclusive deals on products in its online store, same-day delivery or two-day delivery, etc. It also provides the users unrestricted access to movies, TV shows, and books that are available on Kindle. When the service was initially launched, the consumer was asked to pay an annual fee of 79$ to unlock the benefits of the membership program. One of the most remarkable features was the two-day delivery option.
In March of 2014, the annual membership price in the US for Amazon Prime increased to $99 from the previous price of $79. Prime offers additional services in its membership bundle. These services include Amazon Prime Music, Prime Video, Prime Reading, Prime Pantry, and Prime Now.
Huge Popular Media Streaming Platform
Prime Video has become a hugely popular media streaming platform among users across the world. The service initially launched with a different name, on Septemeber 7th, it launched only in the United States. Amazon channels are also available in selected countries. The subscribers from the United States can access content from the HBO network which is a hugely popular entertainment studio. Today Prime Video is the most frequent video streaming platform on the internet. This has also produced critically acclaimed originals such as Jack Ryan and Fleabag.
Plans for Students
Amazon Prime has also won over the loyalty of its customers by offering cheaper plans for students. This offer is beneficial exclusively for students. A six-month free trial is provided for a student by Amazon. Furthermore, after the free trial ends, students can unlock its services at a discounted price of $59 for a year or $6.49 for a month. A university mailing address or any alternate form of proof that you are enrolled in a university is required to sign up for the student benefits.
Sometimes, Amazon adapts aggressive pricing strategies as well. The subscribers are often compelled to purchase products so that their free same-day delivery services do not go to waste. Amazon, with its program has proved to be successful in both skyrocketing its sales and luring in more customers as well.
