Operations Inside the Amazon.com Fulfillment Center On Cyber Monday
Photograph by David Paul Morris — Bloomberg via Getty Images

Analyst: 38% Of Households Use Amazon Prime

Jan 13, 2016

Amazon Prime, the e-commerce giant's subscription membership service, is now being used by 38% of American households, according to Investors Business Daily.

As part of the company’s subscription service, Amazon Prime, users can access streamed movies, TV shows and Amazon’s original productions, in addition to free two-day shipping on orders.

Investment bank Cowen, which surveyed 2,500 U.S. shoppers, said in a research report Wednesday that Amazon Prime had 41 million members in December, a 32% increase from the same month a year earlier. Cowan partly attributed the growth to a Black Friday-like sales holiday Amazon held for Prime members over the summer that attracted new subscribers.

Some estimates peg Amazon's worldwide Prime membership at 80 million.

SIGN UP: Get Data Sheet, Fortune’s daily newsletter about the business of technology.

Amazon Prime members are also reportedly higher earners than the average Amazon, Walmart , and Target customers. In December, Cowen released a report showing that Prime Members have an average household income of $69,300, well above the income of Amazon shoppers in general. It is also 25% higher than Walmart shoppers’ average income and 4% above Target’s. The point is that Prime is winning the war against other big retailers to attract higher income shoppers.

WATCH: For more about Amazon Prime, watch this video:

Clearly, Prime continues to grow, which means it's harder for Walmart, Target, and others to compete with the Seattle-based company. Both Walmart and Target reported modest e-commerce growth rates in the third quarter, as Amazon's sales grew 23%.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions