Amazon.com, Inc. (NASDAQ:AMZN) enjoys the patronage of several customers worldwide. The company has introduced a store card to help its customers, who have a low credit score. It loads their card with a credit of around $120. The customers usually pay in full or part of the amount every month.
Reports to credit bureaus
The problem with Synchrony is that it reports to the credit bureaus as soon as the spending exceeds the limit. Setting that right is very difficult. You will credit score will be lowered by the time Synchrony contacts the credit bureau.
The shoppers can raise the credit limit on their Amazon store card. However, you are cautioned to increase the credit limit only when controlling the spending. To maintain a healthy credit score, you need to ensure payments early or on or before the due date.
Robust sales during the holiday season
Amazon has posted robust sales mainly on product categories that include beauty, fashion, electronics, pet, games, toys, home, and sports during the holiday season. It is on the backdrop of aggressive retail strategies and significant e-commerce platform.
Strong performance from own brands
Amazon has reported significant performance from its brands such as Solimo, 365 Everyday Value, Amazon Basics, and Amazon Essentials. It witnessed a strong demand for Echo Auto, Fire TV Stick along with Alexa Voice Remote, Amazon Smart Plug, Echo Show 5, and Echo Dot. The company initiated several measures to satisfy the growing demand during the holiday season.
Amazon-branded trucks that moved up and down the streets of the US during the holiday season are numbered at 20,000. The company offered free one-day delivery to its prime customers on ten million items that include holiday gifts (electronics, games, and toys). It is part of the company’s efforts to improve customer experience. The company also added over 250,000 part-time and full-time jobs across its international customer fulfillment network to meet the demand during the holiday season.
Amazon Prime, along with cashback benefits, customer-friendly offers, and quick delivery services, helped the company to report robust sales during the holiday season. Around 5 million new customers opted for Amazon prime service or subscribed to free trial.