News

Amazon to increase fee for Prime members by 20 percent

Monday 30 April 2018 10:24 CET | News

Amazon has announced a 20% price increase for their Amazon Prime services, after disclosing the total number of subscribers. 

Amazon founder Jeff Bezos had revealed in his annual letter to shareholders that there are over 100 million Amazon Prime members worldwide. 

The increased for prime membership comes after Amazon posted its first quarter results, which show a 43% sales jump. A significant portion of that was driven by demand for Amazons cloud services, but product sales registered a very strong 33% gain, reports eMarketer. 

Amazon said it made USD 9.7 billion from subscription services, representing 5% of total sales. However, that figure is not exclusively Prime membership fees, as it includes sales from Amazons Kindle Unlimited, Music Unlimited service and others, though. 

The rising costs of providing the service were cited as a factor in the price change. The company pointed up faster shipping speeds and the wider range of eligible items.  Its much different that in was in 2014, said Amazon CFO Brian Olsavsky on a call with analysts.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Amazon, Amazon Prime, ecommerce, Prime membership, online sales
Categories:
Countries: World

Related

Edge integrates Bitrefill and Wyre into crypto wallet app

Published 18 Jan 2019 10:30 CET | World
Edge, the blockchain asset security platform and mobile crypto wallet, has integrated Bitrefill and Wyre directly into the wallet application....

Taiwan Cooperative Bank, Visa implement QR code payment in Taiwan

Published 12 Oct 2018 00:14 CET | World
Taiwan Cooperative Bank (TCB) and Visa have announced the implementation of a standardised and EMV-compliant QR code payment for Taiwan....

HSBC launches GBP 12 bln loan fund for SMEs

Published 24 Sep 2018 00:29 CET | World
HSBC has launched a new GBP 12 billion UK-wide fund for growth-focused SMEs....

Trip.com selects Ingenico for payments processing

Published 22 Aug 2018 13:19 CET | World
Ingenico Group has announced that it will provide payment processing and consulting services to Trip.com....