uploads///RETAIL

Here’s One Way Amazon Is Trying to Groom Loyal Retail Customers

By

Jun. 14 2019, Published 3:15 p.m. ET

Helping customers build an attractive credit profile

Amazon (AMZN) has launched a credit program for people who would otherwise not qualify for a credit card. The Amazon Credit Builder program will allow people who join to build a credit profile that can qualify them for a regular credit card and unlock their potential as Amazon shoppers. Amazon is undertaking the credit building program in partnership with Synchrony Financial (SYF), the financial services company that last year bought PayPal’s (PYPL) consumer loans business in the United States.

The credit building program could help Amazon build a larger base of highly loyal customers.

Article continues below advertisement

Making Amazon shopping more accessible

The credit building program is yet another attempt by Amazon to make its retail services accessible to more consumers. The company has created special Prime membership plans for students and people on government assistance, enabling them to enjoy exclusive discounts when they shop on its marketplace.

Amid tightening competition for online shoppers, e-commerce companies like Amazon are trying new ways to attract new customers and improve loyalty among their existing customers. Amazon doesn’t regularly update investors on the size of its customer base, but it said in 2017 that it serves more than 300 million consumers globally. Alibaba (BABA), JD.com (JD), and eBay (EBAY) finished the first quarter with 654 million, 310.5 million, and 180 million active consumers on their platforms, respectively.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.