Amazon Hikes Prime Membership to $99 Per Year
Amazon is raising the price of its popular Prime membership to $99 per year, an increase of $20.
It’s the first price increase since the online retailer introduced its Prime membership program, which includes two-day free shipping on many products, in 2005. The company said it would probably raise the price by $20 to $40 in January.
AP Photo/Paul Sakuma,The hike will apply to users when they renew their membership. Users who renew membership before April 17 will pay $79 for the year. After April 17 the price will change to $99. New customers that start a free trial between now and March 20 will lock in the $79 rate for the first year.
The company said it added a million new Prime members in the week before Christmas and a surge in online ordering in the U.S. contributed to huge delays for people sending gifts just ahead of the holiday.
But that has rankled some investors, who are looking for bigger returns.
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