Amazon.com, Inc (NASDAQ:AMZN) has recently declared that it is all set for the trial of its new delivery method, Flex, in the UK. Amazon Inc (AMZN) Flex will allow non-professional delivery drivers to make delivery on behalf of Amazon. The new structure is part of the increasing trend in the concept of shared economy. The new method of delivery is same as Uber operates but it will work for parcels only. Amazon will test the service in Birmingham this month before it is moved out countrywide.
An hourly wage will be paid to car owners to deliver packages to customers’ particular destinations from its distribution centers. In the beginning, freelancer drivers will be used for the same day deliveries which also comprise its “prime Now” service. Prime Now service offers delivery within one hour for almost 15000 products.
According to the estimates by Amazon.com, Inc.(NASDAQ:AMZN), £13 – £15 (US$17-$19.60) will be paid for an hour to ‘FLEX’ drivers, together with tips. But the hourly rate is not sure and if a driver takes more time than Amazon expects to deliver packages along a specific path then it could be lesser.
Besides this, Company has declared a partnership with Wells Fargo last week to add student loan to their virtual baskets. This agreement will facilitate members of Amazon Student Prime, a cut-rate form of its free shipping program, with reduced interest rates of 50 basis points on loans.
Americans are targeted on the point of adulthood as both companies are keen to gain the maximum consumers interest and money. But there is no essential renovation of the $US1 trillion ($1.34 trillion) educational debt market.
The Federal government increased Nine-tenths of student loans including the private sources. Many of the large banks are no longer in the market, however, Wells is the major that remains, with approximately outstanding shares of $US12 billion.
Amazon.com, Inc (AMZN) is trying to keep customer share with new offerings of financial services as other online communities are doing. Risk and expenses are low with agreements with existing providers.
Financial Trading Outlook:
In the last trading session, Amazon.com, Inc (NASDAQ:AMZN) jumped +0.06% with the closing price of $744.86. When it comes to the stock recommendation, Amazon.com, Inc (AMZN) stock is upgraded by Vetr from “hold” to “buy.” Oppenheimer Holdings Inc. has a price target of $780.00 on the stock of Amazon.com.