Amazon's partnership with Grubhub boosts Prime program engagement and revenue growth

From Nasdaq: 2024-06-04 09:58:00

Amazon’s shares have jumped 17.4% this year, outpacing the Internet Commerce industry’s growth of 11.7%. The company’s success is attributed to its strong e-commerce presence, expanding network, and ongoing improvements to its Prime program. A recent partnership with Grubhub offers free membership to Prime users in the US, boosting engagement and loyalty.

The Prime program is a significant driver of Amazon’s revenue growth. Prime members enjoy various benefits such as free grocery delivery, fast shipping on prescriptions, ad-free music streaming, and gaming perks. Subscription service sales saw an 11% increase in the first quarter of 2024. Analysts forecast a revenue growth of 11% and an EPS growth of 57.9% for 2024.

Amazon’s current Zacks Rank is #3 (Hold). Other top stocks in the retail sector include The Gap, Coupang, and Walmart. These companies have shown impressive gains this year, with strong future growth projections. The continued success of Amazon’s Prime program and strategic partnerships like Grubhub are expected to drive further revenue growth and subscriber engagement.



Read more at Nasdaq: Amazon (AMZN) Boosts Prime Momentum With Grubhub Partnership