In Leaked Internal Meeting, Amazon Retail Chief Says Sales Of Cheaper Items Are Surging

Amazon's retail CEO Doug HerringtonAmazonAmazon's sales of cheap items are surging, driven by faster delivery speeds, executive says.Amazon's essential product sales are growing 50% faster than other items.The company has regionalized its delivery network to achieve faster and cheaper deliveries.The sales of cheaper items are surging on Amazon.During a recent internal all-hands meeting, Amazon's retail CEO Doug Herrington said that the everyday essentials business, which includes health, beauty, and grocery products, is "growing 50% faster than the rest of the store," according to a recording of the event obtained by Business Insider.The growth is primarily driven by faster delivery speeds because people tend to spend more and shop more frequently when orders arrive quickly, Herrington said.