Amazon just made thousands of books free for its Prime members - here's a simple reason why
AP Photo/Reed Saxon
The books are available in e-book format through Amazon's free Kindle apps. You don't need a separate Amazon Kindle device to read these books, as the Kindle app is available both on the iOS and Android.
That means if you're a Prime member, you get free access to all those books in addition to free two-day shipping, online video and music, and file storage space. Prime is Amazon's paid membership program that costs $99 a year or $10.99 a month.
Why is Amazon continuing to add so much free perks to its Prime membership program? Because once you become a Prime member, you tend to spend more than non-Prime members and become a loyal customer to Amazon. So Amazon's using all these added benefits to sign up as many Prime members as possible.
These charts by Morgan Stanley, based a recent survey, perfectly illustrates this point. It says about 40% of Amazon Prime members spend over $1,000 a year on Amazon, while only 8% of non-Prime shoppers do so. It also found that Amazon Prime members spend about 4.6-times more money on Amazon than non-Prime members.
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver