It’s been another headline-making year for Amazon, from pledging to raise its minimum wage to $15 for all employees across the country to becoming the No. 1 organization in the United States where professionals most want to work.
Another demographic among which it took top marks? Teenagers. According to a recent Piper Jaffray study, the e-tail behemoth has earned favor among Gen Zers, becoming their favorite online shopping destination.
The investment banking firm’s semiannual “Taking Stock With Teens” survey reported that almost half, or 47 percent, of the 8,600 participants named the site as their preferred place to make purchases, up 3 percent from the spring. It also held the spot by a wide margin, with second-placer Nike.com at 5 percent.
Additionally, Amazon Prime saw an increase in its adoption rate to 74 percent from 66 percent last year, estimating the number of Prime-using households lands in the low 80 millions.
Watch on FN
Beyond the United States, the company has expanded its subscription service to four new markets: Luxembourg, Mexico, Singapore and the Netherlands. (In April, founder Jeff Bezos reported in a letter to shareholders that the number of Prime members around the globe had exceeded 100 million.) The news comes just six months after Amazon raised the price of its annual membership from $99 to $119, citing rising costs.
The Seattle-based business continues to grow — even outside of e-commerce, introducing its first brick-and-mortar concept store in New York City dubbed “Amazon 4-Star,” which offers products that have been rated four stars and higher on its website.
Vans Overtakes Nike as the Fastest-Growing Brand Among Female Teens, Says Study