Amazon's Price Hike On Non-Prime Members

Amazon has announced that its online shopping platform has increased the threshold for free shipping from a minimum purchase of $25 to $35 for non-prime members.

The increase in the minimum purchase threshold is due to rising costs for the company with fewer purchases due to a slowing economy. Amazon currently offers its Prime membership for $139 per year and has hopes that the change to free shipping stipulations will cause more individuals to sign up for Amazon Prime.

Amazon has attempted to reduce costs by cutting 27,000 jobs and putting a halt to corporate hiring. An increase in Prime subscribers could be beneficial for the company as Amazon announced it has over 200 million Prime subscribers which generates roughly $9.9 billion in revenue each year.

Source: CNBC