60% Of Amazon Customers Will Not Renew Their Prime Membership, Poll Reveals

Amazon might have gone too far this time when it announced last month a 20% price hike of its Prime membership to $119, up from $99 annually – while reporting a record $51 billion in sales and $1.6 billion in net profits. The price jump is set to go into effect this Friday, May 11 for new members, while existing Prime subscribers will see their membership rise starting June 16 when it comes up for renewal. Last month, Amazon confirmed that it had 100 million Prime subscribers and, according to Consumer Intelligence Research Partners (CIRP), 90 million of them are U.S. members, with a renewal rate of more than 90% after the first year. However, this is about to change. Read more at Forbes.