Amazon’s Prime memberships could more than double in the next 10 years.
A recent Citigroup study estimates that more than 275 million people will be Prime members by 2029, up from 101 million in 2017. Roughly 80 percent of U.S. households are expected to adopt the service in the next decade.
Amazon’s growth is evident in its recent jump to be the second public company to ever reach a $1 trillion valuation. It doesn’t have that valuation now, but analysts expect it to reach $1 trillion again and continue to grow.
The company’s success comes as it expands into more aspects of everyday life, including shaking up the grocery industry with its acquisition of Whole Foods last year and pushing the pharmacy industry ahead with its announced plans to acquire prescription delivery startup PillPack.
The company’s subscription services like Amazon Prime Video and Audible also continue to grow as the organization releases original shows, movies and books