Martin Lewis has issued urgent advice to anyone with an Amazon Prime account after the online giant announced it is hiking its subscription costs.
Amazon issued an email to its Prime customers to alert them about an impending price increase to its memberships for both monthly and annual users.
The technology giant said the rise in cost is due to “increased inflation and operating costs”, and marks the first increase since 2014.
Customers who subscribe to Prime can get free unlimited delivery, entertainment streaming and live sport through the service.
What did Martin Lewis advise?
Martin Lewis issued a warning to customers about the price hike and urged people to switch their monthly membership to an annual subscription to save on costs.
In a tweet, he wrote: "Amazon Prime to hike price. On 15 Sept, the monthly membership price increases from £7.99 to £8.99, and annual membership from £79 to £95.
"If you currently pay monthly, and want to keep it, if you can afford switch to annual now, to get next year at £79. Pls share."
He added: “If your annual renewal is just after, then try cancelling and restarting just before 15 September.”
His clever hack means that customers will avoid the increase for a year and make the most of current prices.
The news of the Amazon Prime increase prompted many members to announce they will cancel their subscription to save on costs.
One Twitter user wrote: “I’m going to cancel Prime & Netflix and I also have YouTube that I pay for that’s £40 a month saved."
"Just had the email. What a hike. Blooming cheek. Can’t live without Amazon though. What to do?" said another.
“To all those shouting “It’s only a Pound” It’s a twelve percent increase. Accept that on everything...” a third wrote.
Another added: "How do Amazon justify ‘only’ 12% increase for monthly payments but 17% increase for those of us that pay up front?"
However, some people did not understand the outrage and said they are happy to just cancel if prices are rising.
One user said: "I don’t understand the outrage here. Personally if I got rid of Amazon tomorrow, my life won’t change one bit. Just don’t renew it. I won’t."
"Need to remember Prime is an optional luxury and you should assess if you can afford it. Amazon are entitled to raise prices so it’s very much your own circumstance and call if you want to pay it. The world is becoming a subscription provider…." wrote another.
What has Amazon said about its price increase?
A spokeswoman for Amazon Prime said: "Prime offers the best of shopping and entertainment, and continues to improve each year.
“We have increased the number of products available with fast, unlimited Prime delivery, recently added ultra-fast fresh grocery delivery, and have significantly expanded our high-quality digital entertainment, including TV, movies, music, games, and books.”
The spokeswoman added: “With increased inflation and operating costs in the UK continuing to rise, we will change the price of Prime."