Amazon is making one-day shipping the new standard for Prime members

1:18 PM ET Fri, 26 April 2019

Amazon said that Prime members will soon see the default two-day free shipping reduced by a day. CFO Brian Olsavsky said during the company's first-quarter earnings call that it plans to spend $800 million to make the change. The move will put pressure on retailers like Walmart and Target to respond and spend more money to make sure they can meet shoppers' delivery expectations. Target and Walmart shares are tumbling on Friday, following Amazon's announcement.