Amazon Continues to Remain the Biggest Online Retailer

kim kardashian

One of the biggest online retailers, Amazon.com is exceeding their own expectations by passing its estimated sales for the first-quarter.

Bloomberg analysts projected a $22.4 billion in sales for the company. The company announced Thursday April 23rd of a 15 percent jump to $22.7 billion.

Amazon is reported to be the largest cloud-computing service seller, with their Web Services saying their revenue increased by 49 percent to $1.57 billion.

More focus is being put into the companies biggest revenue outlet. Chief Executive Officer Jeff Bezos said money and focus are being put into new warehouses and data centers.

He also wants to add media content for Amazon Prime members to attract more members. Tom Szkutak, the chief financial officer, reported that Prime members bring in much of the companies earnings, saying, “It is a great platform to feed.”

The companies goal is to have most of its 278 million active shoppers as Prime members.

Via Amazon
Via Amazon

A new addition to the Amazon market is a hotel-booking site as well as a home-improvement workers listing in attempts to attract all spectrums of customers.

Shares have risen 6.5 percent in extended trading as well as stocks gaining 26 percent in the year so far.

Buying Amazon stock seems to be a good idea right now. Robert Drbul, a Nomura Securities International Inc. analyst, tells Bloomberg, “For a company of this size, for them to continue to generate this kind of revenue growth is nothing short of impressive.”

Amazon not only generates money from their own gains but from the websites that use the Amazon Web Services for data storage and computing power. Companies like Pinterest and Netflix helped generate $265 million.

An analyst from Wedbush Securities in Los Angeles said, “They’re making a very healthy margin with AWS and they should get a higher margin as they continue to grow.”

Amazon has mastered the skill in making their competitors their clients. More than 2 million merchants have deals with Amazon, allowing them to sell their goods on Amazon’s website ang Amazon then getting a cut of their sales.

Amazon has added a new feature for Prime members who reside in six particular cities, including Manhattan, Dallas, and Miami, that offers free one-hour shipping on certain products. A feature called the Amazon Dash Button allows customers to order everyday products and groceries in a flash.

Another new feature is the voice-activated light switch connected with their Echo speakers.

Many of their new features are only available to the 35 million Prime members on Amazon.

Ben Schachter, the Macquarie Research analyst, estimates that 50 percent of U.S. households will be Prime members by 2020.

Schachter says, “This has major implications for both Amazon and key retail competitors.”

“The only really bad news was international,” said Forrester Research Inc. analyst Sucharita Mulpuru.

Amazon’s international sales have dropped 1.8 percent to $7.75 billion but Mulpuru also said, “Lots of other companies have struggled with international growth.”

Image via Flickr/ibusiness lines

 

About Priscilla Manzo​

I am inquisitive by nature. An avid reader. Writing is a second nature, it tames my insanity. I have so much to say, so much to express. As a writer for StyleFT, I dabble in in all subject matters. As in the words of E.L. Doctorow; “Writing is a socially acceptable form of schizophrenia.” - In support of my work, you may kindly comment and share. Your ideas and feedbacks are welcome.

Have a tip we should know? tips@rhd.news

Uncategorized

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    3 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
  4. BUSINESS
    Women’s Demand for Shapewear – the big Trends
    3 years ago
  5. BUSINESS
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    9 months ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    9 months ago
  10. BUSINESS
    Dubai faces down airline rivals with $50 bln jet orders
    9 months ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    9 months ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    9 months ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    9 months ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    9 months ago

Follow @rushhourdaily: