Since the pandemic, Amazon has attracted about 30 million new members to its Prime membership program each year (in 2020 and 2021), according to estimates from Consumer Intelligence Research Partners, LLC (CIRP).
CIRP also said Amazon has been retaining Prime members at an impressive rate.
CIRP Partner and cofounder Josh Lowitz said, “Amazon Prime membership growth in the US had slowed for a few years. Yet, Amazon added about 30 million members in each of the last two years, as a substantial number of shoppers became more dedicated online shoppers as they avoided in-person shopping.”
Meanwhile, membership renewal rates continued to improve. “The renewal rate after one year hit 94%, while the rate after two years is an impressive 98%, which any other retailer or membership driven business would envy,” said CIRP’s other Partner and cofounder, Mike Levin.
CIRP based its findings on surveys of four quarters US subjects, with 500 subjects per survey, who made a purchase at Amazon.com in the period ending September 2021.
More information from the CIRP report: “As of December 2021, Amazon had 172 million US members. In each of 2020 and 2021, Amazon Prime added about 30 million members in the US. We attribute much of this increase to significantly greater online shopping during the COVID-19 pandemic. This served to accelerate Prime membership growth from slower rates in the previous few years.”
Amazon Prime costs $119/year or $12.99/month and offers Student and Government-Assistance rates.