Amazon Prime's Membership and Retention are Higher Than Costco's
Bezos said the e-commerce giant has exceeded 100 million paid Prime subscribers.
(Bloomberg) -- Amazon.com Inc. Chief Executive Officer Jeff Bezos said the e-commerce giant has exceeded 100 million paid Prime subscribers and will continue to invest to meet “ever-rising” customer expectations.
With a base that tops nine-digits, Prime now has more members than Costco Wholesale Corp. Costco last reported having 90 million members in its fiscal 2017 annual report.
Analysts have pegged Prime’s retention rate at over 90 percent. Costco, known for its members’ loyalty, has renewal rates that have hovered in the upper 80s since the warehouse chain began disclosing the figure in 2006.
--With assistance from Spencer Soper
To contact the reporter on this story: Brandon Kochkodin in New York at bkochkodin@bloomberg.net.
To contact the editors responsible for this story: Anne Riley Moffat at ariley17@bloomberg.net, Joe Weisenthal at jweisenthal@bloomberg.net.
©2018 Bloomberg L.P.