Amazon Prime tops 100M users
CFRA Investment Strategist Lindsey Bell, Forbes Media Chairman Steve Forbes and Fox News contributor Robert Wolf on the outlook for Amazon.
E-commerce giant Amazon’s newest venture, Amazon Prime Wardrobe, officially launched on Wednesday, allowing customers to try on clothing before they buy it – in the comfort of their own homes.
Continue Reading Below
Prime subscribers choose three to eight items of clothing for delivery. From there, customers have seven days to decide what they want to keep. Amazon sends the items in a re-sealable box with a prepaid label for returns, so customers only pay for what they choose to purchase.
The service offers customers access to more than a million items across a slew of renowned brands including Levi’s, Boss, Puma, Theory and Calvin Klein. However, not all of the site’s apparel will be available to users of Prime Wardrobe — just what is included in the dedicated section of the site.
Amazon says these deliveries will take about four to six business days to arrive.
The service was first announced last summer and has been tested with a group of potential users.
The Prime Wardrobe service is Amazon’s latest foray into fashion and could deal another big blow to department stores; it eliminates one of the major reasons customers still go to physical stores – to try things on.
Advertisement
Amazon’s share of the U.S. clothing market is expected to increase from 6.6% in 2016 to 16.2% by 2021, according to Cowen & Co. analysts, as reported by The Associated Press.
Meanwhile, traditional retailers are struggling to stay afloat as they attempt to keep up with rapidly changing consumer tastes. Retailers such as Foot Locker, Guess, J. Crew and Macy’s have all announced store closures in recent months.
