TLDR
Amazon shares fell 2.55% to $259.25 after rebounding from a morning low near $252
Prime members can order meals through Uber Eats on Amazon.com or the shopping app
Prime members get free Uber Eats delivery on Amazon orders of at least $25
Customers can save $20 on each of their first two qualifying orders within 14 days
Amazon added more than 6,000 grocery items in six months as it expanded delivery
Amazon’s push into restaurant delivery came as its stock slipped 2.55% to $259.25. The company announced a deal with Uber Eats to let Prime members order restaurant meals on Amazon. The agreement adds free delivery on qualifying orders and a limited discount for customers placing their first orders.
Amazon.com, Inc., AMZN
Amazon Stock Recovers Part of Its Morning Loss
Amazon shares traded near $270 before a sharp sell-off around 10 a.m. The decline took the stock to an intraday low near $252. Shares then recovered part of the loss during the regular trading session.
The rebound left the stock below its previous close and well short of its early trading level. The intraday chart showed the stock fall below $266 during the morning decline. Amazon shares stayed below that level in afternoon trading.
The trading figures reflect an intraday move. Separately, Amazon announced the Uber Eats deal as an addition to Prime, its paid subscription for shopping and entertainment. Prime already includes shipping benefits and access to Prime Video and Amazon Music.
Uber Eats Deal Adds Free Delivery for Prime Members
Prime members can order restaurant meals through Amazon.com or the Amazon shopping app. Uber Eats handles delivery, and Prime members pay no delivery fee on orders of $25 or more. Members must place their orders through Amazon to qualify for the benefit.
The companies also offer an introductory discount for customers using the new service. Customers can save $20 on each of their first two Uber Eats orders through Amazon. The offer runs for 14 days, and each purchase must total at least $25.
Uber also sells Uber One as a separate subscription for $9.99 a month or $96 a year. Its membership offers delivery fee benefits on food and groceries, along with other perks. The agreement gives Uber Eats another way to reach restaurant customers outside its own app.
Amazon Expands Delivery as Walmart Competes for Members
Amazon has expanded its grocery business alongside its existing retail delivery operations. The company said it added more than 6,000 grocery items to its selection over six months. It has gained ground in grocery delivery, particularly through same-day and one-hour service.
Walmart competes for grocery and retail shoppers through its own paid membership programs. Its bundle combines Walmart+ with Sam’s Club Plus and costs $120 annually, plus tax. The package links Walmart’s retail membership with benefits from its wholesale club.
Amazon’s new partnership brings an outside delivery service into its shopping platform. Amazon already sells groceries for home delivery, while Uber Eats connects customers with restaurants. Prime members can now use the same storefront for grocery purchases and restaurant orders.
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