The tech giant's online superstore offers its Prime service to millions of customers worldwide, and has noticed that the faster that they are able to deliver its vast range of products to those who pay a subscription fee, profits go up.

CEO of Worldwide Amazon Stores, Doug Herrington said: "When we speed up deliveries, customers shop more. For 2024, we're going to have the fastest Prime delivery speeds around the world."

Last year, Amazon reported more than $30 billion on revenue of $575 billion, and it has been claimed that the subscription service - which costs $139 per year in the US or £95 per year in the UK and offers next-day delivery - is the "glue" that keeps the whole company together.

eMarketer analyst Suzy Davidkhanian, said: "They have this whole flywheel model with Amazon Prime membership in the middle. That's the glue that keeps everything together."

As part of the subscription, customers can also access Prime Video - which serves as the company's rival to streaming giant Netflix - for no extra cost, and can also make use of their Subscribe and Save service, which offers the chance to regularly purchase certain products with a discount.