In an interview on CNBC’s Mad Money, Andy Jassy said consumers are still spending, but they are looking for bargains. “Whenever customers can trade down in price, they are wanting to do so.” The consumables business growth rate has been very strong, he noted. Customers love getting items quickly, and increasingly, they can receive same day shipping, he added. He expects the price of Prime membership to increase “from time to time” as the value proposition increases. He continues to be “very bullish” on AWS for “2024 and beyond.” He expects almost all of the generative AI spend to be in the cloud.
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