Recently, Amazon increased the Amazon prime subscription price in five major countries where the company holds a large chunk of the customers.
A few months earlier, Amazon had already increased the prime subscription price in the US. Now, Amazon decided to raise the cost of prime subscriptions across Europe markets as well.
Amazon blames this rise in cost due to the upward trend of inflation, which is causing the operating cost increase.
After the US, the second big market Germany also faces the increased cost of Prime upto 30%, 89.90 euros. Meanwhile, the third big market, France, will face a rise in prime subscription costs by upto 43%, and the same goes for Spain & Italy.
Similarly, the UK customer will face a 20% yearly (95 pounds) increase in the amazon prime cost.
All of the increases in Amazon Prime will be applicable from 15 September onwards.
In April, Amazon posted its first quarterly loss in seven years due to rising costs, including higher wages and rising gas costs.
Amazon is also working on switching its cargo fleet to electric vehicles known as Electric mini-trucks to cut the cost of gas, which is also raising the cost due to the global economic crisis.
Amazon first time, raised the cost of Prime subscriptions out of the US. And on Thursday, Amazon is set to report Q2 earnings for the April-June period.
Amazon stock has already lost upto 30% from the start of this year. Hopefully, this time they will make a good announcement for the investors.
What do you think about this price hike in Amazon prime subscription?
