Amazon Revenue Keeps on Growing in 2021

BusinessAmazon Revenue Keeps on Growing in 2021

Amazon Revenue Keeps on Growing in 2021

What if shopping on Amazon was a thing of the new normal? Beyond just shopping on its marketplace, users from around the world have become daily users of the tech giant, from watching movies, to shopping online.
As a result, the working-from-home situation that the world has known for a year has become a new normal that many people have gotten used to. Small and large brick-and-mortar retailers have shut down, to the advantage of Amazon.
For the first three months of 2021, the tech giant’s profit was $8.1 billion, up from $2.5 billion in 2020.

2021 set to break records

What if back to normal meant to keep shopping online? Since the first quarter of 2021 ended, many western countries are back to normal, shoppers are taking their time to switch from online to offline shopping. To many of them, the online habits might remain.
The pandemic could herald “a golden age” for Amazon”, declared an analyst to the BBC.
As a matter of fact, Revenue rose from $75 billion this time last year to $108.5 billion for the first three months of this year.

Amazon Streaming services boosted 2020

One new thing is the way Amazon is offering services to its users. While broadly known for its online shopping and fast delivery windows, Amazon has grown during the pandemic, especially with its streaming service “Amazon Prime Video”, owing in part to the coronavirus restrictions on cinema theaters.
“As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70% year over year,” said Jeff Bezos during a press conference.

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Automated Delivery is next

On top of the great news shared during the press conference – including a pay raise to its 500,000 employees in the United States, Amazon has announced new technologies for 2021.
The most anticipated one is called Amazon Scout, already operating in four U.S States. It is described as a fully electric autonomous delivery system that “rolls down the sidewalk at walking pace and delivers items right to customers”, according to the BBC.
This could enable millions of consumers to receive their shipments faster. After sharing its results, Amazon’s share was up to $3,471, a big jump compared to earlier this year where it was traded for $2,951.
The above content is considered to be market commentary information and shall not be perceived as independent investment research or investment advice.