Amazon (AMZN) Prime is wrapping up a year that expanded its offerings, from entertainment like "The Lord of the Rings: The Rings of Power" and "Thursday Night Football" to offering partnerships with third-parties like mobile food delivery platform Grubhub.

"We are going to continue investing in Prime benefits, offers, and exclusive experiences to ensure that members see disproportionate value and choose Amazon to fulfill their needs and wants," Jamil Ghani, VP of Amazon Prime, told Yahoo Finance Live (video above).

For Big Tech, the holiday season has been looming as we come to the close of what's been an incredibly difficult year. The tech collapse in recent months has seen big names like Meta (META), Microsoft (MSFT), and even Apple (AAPL) get slammed as investors grow increasingly cautiousabout a once seemingly untouchable sector. The tech-centric Nasdaq is down about 28% year-to-date, as of open on Wednesday.

Amazon is also facing serious headwinds this holiday season, as the company's been tied up in the tech rout caused by high inflation, a hawkish Fed, and the consumer slowdown. Competitors such as Walmart (WMT) and Target (TGT) have been preparing for a soft holiday season, and e-commerce is no longer riding the pandemic high that was spurred on by shelter-in-place orders.

Still, Ghani said he's fundamentally optimistic about how Amazon Prime will perform over the holidays, making the case that savings — an increasingly important pillar of Prime membership — are especially important to consumers in tough times.

"Right now, with everything that's going on in the world and in the economy, I think [savings are] more important than they've ever been," he said.

Amazon Prime offers savings across a wide array of products and services, from other Amazon-related subscriptions to credit cards.

Notably, Amazon has gotten hammered in tech's return-to-Earth moment. In its Q3 earnings last month, the company reported misses on revenue and sales for its cloud business, Amazon Web Services, and clocked lower-than-expected projections for Q4. Amazon shares are down nearly 40% year-to-date, as of market open Wednesday.