Will Amazon Prime Prices Go Up in 2023?

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Something to think about when almost everything is going well.

From gifts to school supplies to household essentials, millions of people use Amazon Prime. But while Prime membership is worth it in and of itself, it doesn’t come cheap these days.

In 2022, Amazon will increase the cost of an annual Prime membership from $119 to $139. And that bump was enough to make some members jump the ship.

If you continued to use Amazon during its recent price increase, you may have reached the maximum amount you are willing to pay for your Prime membership. But when will we face price hikes again, will Amazon try to raise prices in 2023?

Possibility to support

Many retailers are seeing their margins shrink as a result of inflation. And there’s no reason to think Amazon is an exception. So it’s possible that the online retail giant will try to raise the cost of Prime memberships, even though it recently went the same route.

That said, two consecutive year price increases are unlikely to be accepted by Prime members. Amazon is well aware that the Prime program isn’t the only service where consumers can sign up to take advantage of benefits like free shipping.

For example, Walmart+ offers the same benefits at a lower price than the current Prime membership. Therefore, it is in Amazon’s best interest to try to retain Prime members rather than alienate them with price increases.

Expect Prime cost to rise eventually

Amazon may not raise the cost of Prime memberships in 2023, as it did in 2022. For example, even if it doesn’t happen this year, it could go up in 2024. That’s why we encourage you to continually evaluate your Prime membership to make sure you’re really getting great value.

If you use Amazon Prime several times a week to order discounted items, even if it’s $10, $15, or $20 more than it is now, it’s well worth keeping your Prime membership. However, if you only place Prime orders occasionally, it may not be worth maintaining your membership. Especially when it comes to more expensive prospects.

In fact, you shouldn’t wait for Amazon Prime price increases to evaluate your membership. Instead, ask yourself every few months if it’s worth paying for Prime. If not, cancel that money and use it for something else, like paying for groceries or adding to your savings account.

From the option to try on apparel for free to tons of digital content, there are many perks that Amazon Prime members enjoy. But if you find yourself not taking advantage of them, there’s no point in spending your money on something that offers mediocre value.

Amazon may actually keep the annual fee for Prime membership at $139 for quite some time. But that doesn’t automatically make it a good deal for you.