A parcel moves on the conveyor belt at Amazon's logistics centre in Graben in this file photo
Amazon.com (AMZN) is hiking prices on Prime, its premium membership tier, to $99 per year from the current $79, the online retail giant announced on Thursday.
The new pricing will take effect when customers make their annual renewal. According to the company, the Prime Fresh membership will remain unchanged at $299, and student members will pay $49 per year.
Currently, Prime offers customers free two day shipping. The company is working toward broadening the offerings of its premium service, which in the future could include streaming music.
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