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Report: Amazon Prime taking members away from Costco, Sam's Club
New research from Cowen & Co. indicates that more U.S. households are joining Amazon's Prime program and canceling their Costco and Sam's Club memberships.
According to data published by Cowen & Co. on Monday, the percentage of U.S. households that pay for Prime membership only has more than doubled over the past four years, from 7.1% in 2013 to 16.2% in 2016. In the same time span, housholds that use either Costco (from 14.9% to 9.8%) and Sam's Club only (from 16.9% to 9.7%) dropped noticeably.