Amazon to invest $800 million to make Prime shipping faster
Amazon plans to spend $800 million in the second quarter to cut shipping times to one day for Prime members.
On an earnings call with investors on Thursday, the Chief Financial Officer Brian Olsavsky, said Amazon was investing heavily to make Prime shipping faster. “This is all about the core free two-day offer evolving into a free one-day offer,” he said.
Due to the large investment, Amazon predicts its earnings will drop below expectations next quarter.
Olsavsky described the initiative as “the best deal in retail”.
Amazon has long offered delivery in a day or quicker for some items, but the change will mean free one-day shipping will be the default, rather than two-day.
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