Online retailer drops $50 membership fee

Reuters News
Posted: Oct 07, 2015 12:00 PM

(Reuters) -, the online retailer founded by former executive Marc Lore, said on Wednesday that it has dropped its $50 annual membership fee, marking a shift in business strategy three months after it opened to the public.

The move comes after the response by customers was stronger than anticipated with "the average number of units per order twice what we expected", Lore wrote in a blog post announcing the change.

(reporting by Nathan Layne in Chicago, Editing by Franklin Paul)