Amazon hopes to boost Prime membership and loyalty with enhanced benefits in much the same way Costco has.
New lower prices at Whole Foods Market may not dispel the natural grocery chain’s “whole paycheck” reputation, but it could build stronger relationships with owner Amazon.com Inc.’s Prime members, much like Costco Wholesale Corp. has with its loyal repeat customers.
“Same with Amazon,” she said. “There’s a continued strategy of driving up Prime membership by creating more perks whether that’s video, shipping benefits, [etc.] The more benefits, the larger the share of wallet.” In the second quarter, Costco reported a 90.7% subscription renewal rate in the U.S. and Canada, up from 90.5% the previous quarter.
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