Amazon's US Prime membership has reached 172 million, with 30 million new members added each year

According to estimates by CIRP, a US market and consumer research firm , Amazon's Prime program has attracted approximately 30 million new members each year (2020 and 2021) since the outbreak .

In addition, CIRP also stated that Amazon 's Prime membership renewal rate has reached an astonishing level .

Josh, co-founder of CIRP   " In the years before the pandemic, Amazon Prime membership growth in the U.S. had slowed, " Lowitz said. " However, Amazon has added about 30 million members in each of the past two years as a large number of shoppers avoid offline shopping and focus more on online shopping. "

Meanwhile, membership renewal rates continue to improve. "After one year, the renewal rate is 94%, and after two years, it's as high as 98%, which any other retailer or membership business would envy , " said Mike, another co-founder of CIRP.   Levin said.

CIRP said in the report : "As of December 2021, Amazon had 172 million U.S. members. In 2020 and 2021, Amazon Prime added approximately 30 million members in the U.S. respectively. We attribute much of this growth to the significant increase in online shopping during the pandemic . This helped to accelerate the growth of Prime members, which was slower in previous years."

Meanwhile, some financial experts who follow Amazon have been speculating that the company may soon raise prices for Prime memberships in the United States .

The last price increase for Prime membership in the United States was about four years ago, when the price rose from $99 to $119 for most people who paid annually . However, when the media asked Amazon about this, it did not receive a response.

It is understood that Prime membership is one of the most elastic consumer products in the United States , which seems to go against consumers' tendency to be price-sensitive. The reason is that Prime provides complete and convenient services. For example, Amazon said in 2019 that it would change the standard delivery time for Prime members in the United States from two days to one day.

Michael, co-founder of CIRP   R.   Levin and Josh   Lowitz said they believe some people will buy more products from Amazon when Prime prices go up , possibly because the higher membership fees make people feel that buying more items makes Prime membership worthwhile .

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