Amazon.com (NASDAQ:AMZN) is easily the fastest-growing retailer in the country, as the company is on track this year to add more than $15 billion in retail sales in North America and more than $23 billion globally.
Amazon’s surge comes as traditional retailers are struggling. Department-store chains like Macy’s have seen sales slide, and mass merchandisers such as Wal-Mart (NYSE:WMT) are searching for new growth outlets as sales at established stores have been stagnant.
More than anything else, Amazon’s strong growth and dominance in e-commerce can be attributed to its Prime membership loyalty program.
What is Prime?