In March, Amazon Prime had 180 million members, which is 75% of all US shoppers. This data showcases the ubiquity of Amazon in online shopping. From 2023 to March, there was an 8% increase in Prime memberships, bringing the share of US consumers who have Prime to 75%.
Online shopping saw a significant increase during the pandemic, and new numbers suggest that Prime still has growth potential, although the rate of growth may be slightly slower. The $15 monthly or $140 annual fee for Prime membership is a key source of revenue for Amazon. Analysts predict that the company’s subscription revenue for the first quarter will increase by 12% to $10.8 billion.
Other retailers are also trying to promote their own membership services, offering perks like free shipping on online orders and access to streaming services. Target recently introduced Circle 360, which offers unlimited same-day delivery for $49 a year. Walmart has been expanding its Walmart+ subscription program for years. Despite efforts to compete, Amazon remains engrained in the e-commerce world, with items purchased from other websites often being shipped by Amazon.
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