Amazon Prime membership exceeds 100 million
Amazon.com Inc.'s (AMZN) Prime has reached 101 million members, according to estimates by Consumer Intelligence Research Partners Inc. As of Dec. 31, 2018, the group says 62% of Amazon's U.S. customers are members of the Prime program. Members spend an average of $1,400 annually versus $600 per year for non-members. "Membership growth has slowed, but continued steadily in the holiday quarter," said Josh Lowitz, co-founder of CIRP, in a statement. Membership exceeded 100 million in the holiday period, and grew from 26 million in December 2013. More than one-third of members (36%) pay a monthly fee while 58% pay annually and 7% are on a free trial, share a membership, or don't know how the fee is paid. An annual membership is $119 while the monthly payment structure is $156 annualized. "These more transient members obviously don't have the same commitment to Amazon shopping and the suite of Prime member services," said Mike Levin, a CIRP co-founder. "Presumably they don't typically use the breadth of benefits to the same extent as annual members." Amazon shares have climbed 30% over the past year while the S&P 500 index has fallen 6.7% for the period.
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
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