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Amazon’s Revenue Got Even Bigger in Q1

WWD | April 29, 2021

Amazon's first quarter earnings report, the e-commerce giant easily beat expectations on earnings and revenue, with sales growth 44 percent year-over-year. Revenue blew past the $104.47 billion expected by more than $4 billion, clocking in at $108.52 billion, and net sales hit $108.5 billion, a significant jump compared to the $75.5 billion from the first quarter of last year.

Boasting more than 200 million paid Prime members worldwide, the company believes net sales in the second quarter will land somewhere between $110 billion and $116 billion for growth of 24 to 30 percent, year-over-year.

“It is clear that Amazon continues to reap the benefits from the broader consumer behavior shift toward e-commerce.” said Hilding Anderson, head of retail strategy, North America, at Publicis Sapient.

In its announcements, Amazon called out a number of updates. This includes Amazon’s “try before you buy” Prime Wardrobe offering, with the ability to chat live with Amazon Stylists for personalized recommendations and trial items recommended by their favorite fashion influencers." It also expanded Discover Rooms, an immersive shopping experience for home furnishing. A notable announcement for all shoppers is Prime Day will return to its summer timeframe. Last year postponed until October, this year the sale with take place in June.

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#retail #amazon #q1resultsandearnings #industryleader

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