Published - Apr 21, 2022 @ 12:36 PM (EET)
Amazon (NASDAQ:AMZN) today unveiled Buy with Prime, a new service for Prime members that allows third-party merchants to use Amazon's vast shipping and logistics network to fulfill orders on their sites.
These benefits will extend the convenience of Prime shopping to online stores beyond Amazon.com and will initially be available by invitation only for merchants using Fulfillment by Amazon (FBA).
Depending on payment processing, fulfillment, storage, and other fees, the price for the service will vary for merchants' inventory to be stored in Amazon's warehouses.
Millions of U.S.-based Prime members will be able to shop directly from merchants' online stores with Amazon's trusted experience, including fast and free delivery and a seamless checkout experience.
Moreover, Buy with Prime is designed to work with most online stores and will be a game-changer for many brands as it represents a compelling value-add for both merchants and Prime members.
"We always aim to exceed Prime members' expectations by offering more selection, exclusive deals, quality content, and convenient features." - Vice president Jamil Ghani of Amazon Prime
EARNINGS AHEAD
Scheduled to report its first-quarter 2022 earnings results after the market close on Thursday, 28 April, the e-commerce and technology behemoth is heading into its report on a mixed note.
Like other companies that import products, Amazon has been dealing with higher employee wages and pandemic-driven global supply chain issues, which have increased costs.
However, the company has excelled at controlling the impact on the results of these macroeconomic issues. Recently, Citi assumed coverage on Amazon and believes that the company can carve out even more market share of consumer wallets as far as the risk of an economic downturn is concerned.
In the U.S., Prime offers unlimited access to a large variety of shopping, entertainment, and saving experiences on its annual Prime Day. Since this year's Prime Day is yet to be announced by Amazon, investors should note that year-over-year earnings comparisons could be affected if Prime Day isn't held in the same quarter as last year.
Amazon's last Prime Day was held in June 2021 (Q2).
