Amazon Prime draws younger, wealthier shoppers

Amazon Prime (NASDAQ:AMZN) is growing and its customer base suggests younger, wealthier shoppers. According to new data from Cowen & Company, Prime members are looking for an increasingly diverse range of products, notably apparel.

The survey of 2,500 Amazon customers who buy the annual Prime membership showed an average household income of $69,300, about 24.8 percent higher than Walmart shoppers and 4 percent above Target shoppers, Fortune reported.

In addition, Prime customers are younger than Walmart consumers, averaging 36.5 years old versus 42 years old. However, Target boasts a similar demographic.

The Cowen data also suggests that there were 41 million Prime members last month, up 1 million from a month earlier.

And the number of Prime members that purchased apparel rose 35 percent in November, compared with the same month in 2014. The company forecasts that Amazon will surpass Macy's as the top U.S. apparel retailer by 2017.

Amazon's Prime membership has taken off in the past few years. Back in July, Amazon reported that its Prime membership had reached 44 million.

For more:
-See this Fortune article

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