Amazon Prime Memberships Grew 35% In 2015

Date: January 29, 2016

Continued Growth Shows Growing Relevance Of Online Retailing

 

CNN Money reported that the total number of Amazon Prime memberships grew 35 percent last year to 54 million, according to Consumer Intelligence Research Partners, or roughly one in five US adults and 46 percent of US households. About half of the growth occurred during the last three months of the year, and CIRP said the remaining half was evenly distributed throughout the rest of the year. Amazon’s Prime Day event in July also helped boost new membership, CIRP added. Internet Retailer reported that although Prime membership rose, the average annual spending per member fell from $1,500 in 2014 to $1,100 last year, which can be attributed to more subscribers signing up for Prime for its streaming rather than shipping perks and its subscription base growing to include more casual shoppers, CIRP partner and co-founder Michael Levin explained. Retail Wire said, “Amazon.com is becoming as American as apple pie,” and “there is little doubt that the company has wound itself into the fabric of Americans’ lives.” The article cited a recent Consumer Intelligence Research Partenrs report finding that “21 percent of those living in the U.S. are members of Amazon’s Prime program.”

What This Means For Small Business

Online retailing is an important growth area for small business owners. Amazon Prime’s continued rapid expansion shows consumers are continuing to turn to Internet retail opportunities for the convenience and better shipping options.

Additional Reading

CBS This Morning, Bloomberg News, ABC News, and Telegraph (UK) also reported on the story.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

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