Amazon is making one-day shipping the new standard for Prime members

66 Views · Published on Fri, 26 April 2019 · FINANCE & BUSINESS

Amazon said that Prime members will soon see the default two-day free shipping reduced by a day. CFO Brian Olsavsky said during the company's first-quarter earnings call that it plans to spend $800 million to make the change. The move will put pressure on retailers like Walmart and Target to respond and spend more money to make sure they can meet shoppers' delivery expectations. Target and Walmart shares are tumbling on Friday, following Amazon's announcement. » Subscribe to CNBC TV: http://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: http://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC #CNBCTV

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