AMAZON REPORTS 60 PERCENT INCREASE IN WORLDWIDE SALES, BLACK FRIDAY REPORTS IN-STORE SHOPPING DROP
Images Retail|December 2020
The economic downturn and uncertainty caused by the Coronavirus pandemic means 65 percent of people feel a high level of economic insecurity and are less willing to spend money. Contreras believed that for the moment, the crisis means it is appropriate to consume wisely…

AMAZON WITNESSES ‘BIGGEST HOLIDAY SEASON’ EVER IN ITS HISTORY

Amazon revealed that the company has witnessed its largest holiday shopping season so far this year, as independent businesses selling on Amazon surpassed $4.8 billion in worldwide sales from Black Friday through Cyber Monday — an increase of over 60 percent from last year. More than 71,000 small- and medium-sized businesses (SMBs) worldwide have surpassed $100,000 in sales this holiday season to date. The company, however, did not disclose the figures for the entire year.

“Independent businesses selling on Amazon – nearly all of which are small and medium-sized businesses – are seeing record demand from customers so far this holiday season in the US and around the world. Independent businesses selling on Amazon worldwide have created an estimated 2.2 million jobs” the e-commerce giant said in a statement. American SMBs have sold an average of 9,500 products per minute this holiday season to date. Through Cyber Monday, 2020 has been the largest holiday shopping season so far in the company’s history.

“In a holiday season unlike any other, it’s clear that customers still want great deals on gifts for their loved ones or a little something extra for themselves, and we’re glad to help deliver smiles throughout the season,” said Jeff Wilke, CEO, Amazon Worldwide Consumer.

Amazon said that the sales in the fourth quarter will be between US$ 112 billion and US$ 121 billion – a healthy growth from a year earlier. Net income increased to US$ 6.3 billion in the third quarter, compared with net income of US$ 2.1 billion in third quarter 2019.

“We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season. Offering jobs with industry-leading pay and great healthcare, including to entry-level and front-line employees, is even more meaningful in a time like this, and we’re proud to have created over 400,000 jobs this year alone,” said Jeff Bezos, Founder and CEO, Amazon.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM IMAGES RETAILView All

Permanent Shift in Consumer Behaviour Pushes Retailers Towards E-Commerce, Technology

Global retailers to focus on virtual try-on experiences, AI, technology and e-commerce to provide seamless user experience while maintaining the highest level of accuracy to the consumers…

5 mins read
Images Retail
February 2021

Phygital Retail Convention: What's Next – CEOs Talk Strategies, Solutions

Consumption is an such an integral aspect of modern lives that even a pandemic of the catastrophic proportions of COVID-19 couldn’t abate it. It did, however, create a big dent in consumer behavior and consumption patterns. Industry titans talk to solutions and strategies which can used to abate the negative effects of the pandemic…

3 mins read
Images Retail
February 2021

The Unexpected Opportunity: How COVID Accelerated the Digital Journey of Brands & Retailers Along with Customer Experience

COVID has accelerated the digital journey of brands and retailers across industries and catalyzed innovations to offer customers unparalleled assurances and conveniences. IMAGES Retail brings views of leaders in the digital space from across retail verticals on how their organisations found opportunity in adversity and created innovation benchmarks that will define their growth and leadership even beyond COVID…

5 mins read
Images Retail
February 2021

Pandemic Learnings: Upcoming Mall Developers Talk Consumer Behaviour, New Mall Design

The pandemic-led shutdown of all economic activity threw the Retail and Shopping Centre industries into chaos. Mall supply was severely impacted, and the future of many projects still remains ambiguous. Those who managed to overcome the worst of the pandemic spoke to IMAGES Retail Bureau about how different the future is for them – namely, building agility and resilience to face uncertain times, being fit for growth by aligning costs with priorities and investing in differentiated capabilities and digital levers…

10+ mins read
Images Retail
February 2021

Rewarding Customers for Walking-In is the ‘IN Thing for Retailers Today'

Retail therapy is the best therapy to beat the blues. Post an overextended period of lockdown, as much as everyone seemed enthusiastic to go and shop to their heart’s content, there were many safety concerns. However, the retail community in India ensured that they not just addressed these worries but also designed enthralling marketing strategies to entice people back into their stores. Here’s a quick look at things that worked to create sales way above the expectations of the retailers…

10+ mins read
Images Retail
February 2021

IKEA Focuses on Stronger Omnichannel Play, Local Sourcing in COVID Era

As a purpose-led company, during this time IKEA focused on safety and security of their people, building digital capabilities, meeting customers in new ways as the home became the center of everything in everybody’s lives. The brand aims to reach 100 million people in India online by 2022…

6 mins read
Images Retail
February 2021

Why Building Omnichannel Capabilities are Crucial for Retail Businesses

In the wake of pandemic, as digitalisation accelerates and consumer buying habits constantly evolve, the need for a sound Omnichannel strategy seems more important now than ever before…

7 mins read
Images Retail
February 2021

E-Commerce Order Volume in India Clocks 36% Growth in 2020 Q4

E-commerce as an industry saw a significant uptick in demand. The last quarter showed the real reflection of changing consumer behaviour, and highlighted the actual shift to online shopping even after the lockdown was lifted...

5 mins read
Images Retail
February 2021

Fabric & Apparel Revenues Up In 2021, Other Sectors Follow Suit

While operating margins for spinners are likely to revert closer to pre-COVID levels, those for apparel exporters may remain marginally lower than the pre-COVID levels amid a competitive operating environment, wherein buyers could be expected to negotiate for steeper discounts…

5 mins read
Images Retail
February 2021

The Evolving Roles Of Gold Jewellery: Recent Trends & What The Future Holds

With its universal value and stature, gold is often regarded as the best investment for common people. Gold is, and will always be at the top of the pyramid, and therefore India’s appetite for jewellery is pretty considerable…

4 mins read
Images Retail
February 2021
RELATED STORIES

Think Like a Disruptor

If you want to shake things up, you must have a mindset that’s different from everyone else’s. Here are three ways to reshape your thinking.

5 mins read
Entrepreneur
April - May 2021

How to create strong, secure passwords by learning how to crack them

It gets harder to crack a password if it’s 10 characters or longer—but complexity matters too, of course.

10 mins read
PCWorld
April 2021

Increase Online Engagement

3 Ways to Convert Your Website into a Sales Engine

3 mins read
Home Business Magazine
Spring 2021

VOTE COUNTING TO START IN AMAZON UNION ELECTION

Vote counting in the union push at an Amazon warehouse in Bessemer, Alabama, is expected to start as early as Thursday, but hundreds of contested ballots could muddy the outcome if it’s a close race.

2 mins read
Techlife News
Techlife News #493

Spring clean your beauty life

We sanitize our hands about a million times per day at this point, but your makeup kit needs some love, too. Yep, those brushes and sponges can harbor harmful bacteria and even, gasp, microscopic dead mites between the bristles. (Sorry to go there, but we thought you should know.)

3 mins read
Girls' Life magazine
April/May 2021

AMAZON BRINGS BACK FORMER EXECUTIVE TO RUN CLOUD BUSINESS

Amazon said that it’s bringing back a former executive to run its cloud-computing unit, which has become the online shopping giant’s most profitable business.

1 min read
Techlife News
Techlife News #491

AMAZON PRIME VIDEO TO STREAM 21 YANKEES GAMES

Amazon Prime Video will stream 21 Yankees games to members in New York’s broadcast market for the first season, a slate that starts with an April 18 matchup against Tampa Bay.

1 min read
Techlife News
Techlife News #491

Should You Be More Like Bezos?

As the Amazon founder exits the CEO role, he leaves his successor a set of rules that might be helpful to any entrepreneur bent on conquering the known universe.

9 mins read
Inc.
March - April 2021

Amazon's Long Game on Labor

If workers accept a union, the company may still try to avoid the bargaining phase

4 mins read
Bloomberg Businessweek
March 15, 2021

Royal Revisit

A sequel squeaks by with just enough gags and a lot of nostalgia.

6 mins read
New York magazine
March 15 - 28, 2021