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In fact, Amazon likely lost money on Prime Day because of the steep discounts, but that risk could pay off in the long run by converting more shoppers to Prime memberships. Members of Prime who spend more money on Amazon on average than non-Prime members, according to a report from Millward Brown.
- Prime members spend about $1,500 with Amazon each year, while non-Prime members spend about $625 with the retailer annually.
- Prime members are also much less likely to shop at other
retail websites in a single shopping session than non-members.
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Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.