What do you call two monkeys that share an Amazon account for orders?
Prime-mates!
Amazon Prime is widely considered a service that disrupted the retail industry. Let’s cover a brief history of the Prime service and how it changed online commerce as we know it.
Amazon Prime was launched in 2005 offering a free two-day shipping service within the United States for eligible purchases. At that time, it had an annual fee of $79 dollars and discounted one-day shipping. The program continued to grow across the world in the next coming years and now is in 17 countries in North America, Asia-Pacific and Europe.
Below are 5 ways that Amazon has disrupted the retail business, as written about in CMO.
- Two Day Shipping – Get your goods as quickly as possible
- Inventory Efficiencies – No unused inventory sitting on shelves
- Killer Product Search – Price comparison, fast delivery and refunds
- Data and Personalization – Suggestions, ratings and sales data.
- Customer Experience – Images and one click checkout for speed