For the first time in four years, Amazon raised the price of Prime in February, adding to the inflationary pressure consumers have felt since mid-2021. While there were a host of (now-defunct) workarounds to avoid the increase, some of the service’s thriftiest subscribers on Reddit say they’ve opted to simply cancel their subscriptions before their subscriptions renew at the higher price.
In a recent post titled “Goodbye Prime,” a Redditor explains that the increase prompted them to compare Amazon and Walmart’s prices. The difference, they explained, didn’t justify the $12 a month subscription fee, so they canceled their Prime. The post made it to the front page of r/Frugal, receiving hundreds of comments from other thrifty consumers who’ve opted out.
@moneymetamorphosis Money saving tip: cancel Amazon prime 💸 many people pay for Amazon for the free shipping and it doesn’t make sense. #fyp #moneycoach #moneytok #moneytips #financetok #financialtips #moneysavingtips #moneyhacks #millenialfinance #womeninfinance #financialliteracy #financialfreedom #financialsuccess #themoreyouknow #amazonprime #amazon ♬ Sunroof - Nicky Youre & dazy
Among critics of the service, the consensus is that it’s only worth the cost if you take advantage of all its perks, such as Prime Video and Prime Music. Shipping, one commenter points out, is already free with many items. “Amazon isn't the automatic winner on price anymore,” another user added.
“I did this months ago and realized that I get the stuff within less than a week anyways. I stopped with the impulse shopping,” one r/Frugal subscriber wrote. “I established a budget for online shopping, stash away a certain amount weekly for the purchases, and have it only to ship necessary household essentials bulk items that are cheaper than anywhere else online.”
Multiple users also mentioned switching to competitors like Walmart+, which offers free delivery, a Paramount+ subscription, and savings on gas, among other perks.
“I moved from Amazon prime to Walmart+! I’m mad I didn’t do this sooner. Groceries are soooo much cheaper and they have a better selection of brands,” one comment reads.
According to the Wall Street Journal, growth in Amazon Prime subscriptions is forecasted to slow to 2% by 2025, a significant drop given that it was once as high as 20%. In November, the retailer expanded its Prime music catalogue to make its service more appealing, though retention remains high at around 97%.