The latest data shows that Amazon Prime had 180 million members in March, which accounts for 75% of all US shoppers. This highlights the ubiquity of Amazon in online shopping. Despite the pandemic, there was an 8% increase from 2023, bringing the share of US consumers with a Prime membership to 75%.
The rise in online shopping during the pandemic has contributed significantly to Amazon’s growth, and this new data suggests that it still has room for expansion. The company’s subscription revenue is expected to increase by 12% to $10.8 billion in the first quarter. Prime fees, which cost $15 per month or $140 annually, are a significant source of revenue for Amazon.
Other retailers are also attempting to compete by offering their own membership services, such as free shipping on online orders and access to streaming services. Target recently introduced Circle 360, which provides unlimited same-day delivery for $49 per year. Walmart has been expanding its Walmart+ subscription program for years. Despite these efforts to compete, Amazon remains firmly entrenched in the e-commerce world, with many items purchased from other websites being shipped by Amazon.
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