Due to inflation, Amazon announced this month that annual memberships will be hiked from $119 to $139. By comparison, monthly Prime memberships will go from $12.99 to $14.99, which equates to about $180 each year.
Logos of Amazon and Amazon Prime are pictured on vehicles outside the Amazon Fulfilment Centre in Altrincham, near Manchester, Britain, November 26, 2021.
The new fees kick in on Feb. 18 for new members. Meanwhile, existing members will see their fees go up on the date of their next renewal after March 25.According to the data, which was collected before the price increase, more than 95% of monthly and annual plan members said that they would "definitely" or "probably" renew their membership.
Even after previous price increases, "member retention rates have remained extraordinarily high," he said.
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