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Amazon hikes Prime prices by nearly 20%

Amazon hikes Prime prices by nearly 20%
© Pixinoo | Dreamstime

It's hard to believe that the largest online mega-retailer in the world, Amazon, got its start almost 25 years ago.

To call it a success is a gross understatement considering its creator, Jeff Bezos, was recently named richest person of all time according to Bloomberg's billionaire tracker.

In a world where instant gratification is becoming the norm, Amazon is hitting the mark by offering 2-day, 1-day and even same-day delivery.

But those perks come with a membership cost, and that cost is going up.

Monthly Prime increase

Amazon prime memberships are getting more expensive for monthly members. The company announced that the Amazon prime monthly fee is increasing from $10.99 to $12.99. That’s an 18 percent increase and adds up to about $156 a year.

Good news for members who pay annually

Members who pay for the full year up front will still pay $99. The increase comes fewer than two years after Amazon first introduced the monthly payment option as a way to attract new prime members who either couldn’t afford the annual membership or didn’t want to commit to using the service all the time.

Amazon Prime membership includes FREE Two-Day Shipping for eligible purchases, unlimited streaming of movies and TV shows with Prime Video, and the ability to borrow books from the Kindle Owners' Lending Library. Check here for perks you're probably not using.

Top things you need to know about Amazon's same-day delivery

Click here to find out how Amazon is working hard to make sure your deliveries, everything from groceries to a home theater system, arrive at your door faster than ever. 

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