by: Jayson Derrick, Benzinga Staff Writer
Amazon's Prime membership kicked off back in 2005 for a yearly cost of $79 but has since been raised to its current annual fee $99. Over the same time, Prime members have been treated to many perks, including speedy delivery, video and music streaming platforms, photo storage and more.
Amazon doesn't disclose the exact number of Prime members on its platform, but a recent estimate from Consumer Intelligence Research Partners pegs the number at 90 million, Statista said. This represents an almost two-fold increase from just March 2015 when there were just 47 million members on the platform.
You will find more statistics at Statista
More importantly, a Prime membership is intended to create loyal customers to Amazon's platform which in turn results in consumers spending more money. And it works as on average, a Prime member spends $1,300 a year on Amazon compared to $700 for non-members. This may explain why Amazon is eager to continue adding benefits to a Prime member since the $600 spending difference multiplied by an estimated 90 million Prime users is no doubt a lot of money.
Image Credit: By Paul Sladen (Own work) [CC0], via Wikimedia Commons
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