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Amazon Prime Membership Cost Increase Starts Today

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Amazon Prime Membership Cost Increase Starts Today

Amazon Prime Membership Cost Increase Starts Today

Recently, Amazon made an announcement stating that they have hit over 100 million Amazon Prime members. Shortly after, they also announced that the company will be raising the cost of an Amazon Prime membership from $99 a year to an annual fee of $119, which comes out to just under $10 a month. This is now the second time in recent years that Amazon has raised the price on Prime customers. In 2014, the price of a Prime membership jumped from $79 to $99. Still, the vast majority of members continued to pay.

While the price increase goes into effect today for all new Amazon Prime members, all existing members won’t actually feel the impacts of the raise until whenever they renew their membership after June 16th.

The price increase comes as Amazon Prime offers more and more benefits for members. Not only do members have access to their beloved free, 2-day shipping, which is the initial draw in for most members, they also have access to Prime Music and Prime Video services.

It will be interesting to see whether the price increase scares people away from becoming a member as well as the impacts it will have on the renewal of memberships from current users. It all depends on whether the member feels as though this is worth it, which can differ from person to person.

If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States. 

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