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. 

Cowen says the numbers indicate that either Amazon Prime is attracting a higher percentage of Costco and Sam's Club members, or is signing up new customers who didn't have any warehouse membership before. And as Amazon continues to add more perks for its Prime members, the trend will likely continue, the report says.

Read more about the report by clicking here.