She learnt her toughest financial lessons amidst her mother’s battle with cancer
Amazon is raising its Prime fees in Europe, the company told customers on Tuesday, days ahead of its second-quarter earnings report.
Among other places, the price of a monthly Prime membership will tick up in the United Kingdom from 7.99 to 8.99 pounds, while the annual cost will increase from 79 to 95 pounds ($114.26), the company said in the notice sent to customers. In Spain, the monthly price will tick up one euro to 4.99 and the annual cost will go up nearly 14 euros to 49.90 ($50.54).
The new charges will take effect on September 15, when members renew their membership.
The move comes as the company aims to bolster its profits amid a slowdown in demand. Consumers who were once homebound during the Covid-19 pandemic have pulled back from online shopping, and the retail sector's online sales growth has slowed. The Seattle-based e-commerce giant is also facing increasing costs due to inflation, which is at its highest in 40 years.
ALSO READ:
In the notice sent to customers in Spain, the company pointed to inflation as one reason for the change. Amazon said it has also increased the number of products it offers for Prime members, including adding more content to stream on Prime Video. Besides free two-day shipping, Prime members get other perks, like access to Amazon’s video and music streaming services.
Earlier this year, Amazon raised the price of a Prime membership in the U.S. from to $139 a year from $119 a year.
Pressure from inflation has also hit Amazon sellers. In April, the company added a 5% “fuel and inflation surcharge” to fees it charges third-party merchants to offset rising costs.
Amazon is slated to release its earnings for the most recent quarter on Thursday.
She learnt her toughest financial lessons amidst her mother’s battle with cancer
The pandemic saw a significant rise in number of cases of anxiety
The art of glow... and glory
March being the World Endometriosis Awareness Month, we attempt to decode the not-so-widely understood condition that condemns its sufferers to a life of unbearable pain
UAE resident shares why she chose the 2020 Nissan Altima to be her road companion
Here are some landmarks that make the visit so much more worthwhile
Now calling a child or youngster “chubby” can be demeaning to them, for even an eight-year-old knows all about body-shaming
shashi tharoors world of words
When someone boasts he is “ahead of the curve”, in other words performing better, earlier or faster than the competition, that expression also has its roots in flying