Amazon Prime subscribers on pace to grow by…

Amazon Prime memberships are set to explode over the next decade.

This is according to Citigroup, which predicts that Amazon Prime subscribers will more than double to 275 million by 2029, as roughly 80% of U.S. households adopt the service, CBNC reported.

The increase that will contribute to more than $500 billion in Prime-related gross sales per year within the same timeframe. In addition, gross merchandise sales will hit $633 billion by 2029, according to the report.

According to Citi analyst Mark May, "Prime members are growing 35% to 40% per annum. There are many benefits of having highly satisfied membership-based customers, but a simple metric is that most studies suggest Prime members spend twice as much as non-Prime members.”

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