US online giant Amazon has recorded a whopping surge of 44 per cent in its first quarter online sales to clock US $ 52.9 billion.
Notably, its net product sales rose by 37.4 per cent to US $ 57.5 billion during the quarter.
While the American e-tailer saw its online sales jump significantly during the period, its bricks-and-mortar store sales fell down by 16 per cent to touch US $ 3.9 billion.
Amazon’s net sales rose by 44 per cent to post US $ 108.5 billion, with net income jumping by more than 3 times to US $ 8.1 billion.
It was all up for Amazon this quarter!
While its third-part seller services shot up by 64 per cent to clock US $ 23.7 billion, ‘other’ section, including advertising, rose by a massive 77 per cent to US $ 6.9 billion.
Reportedly, the worldwide shipping costs too rose by 57 per cent.
Jeff Bezos, CEO, Amazon, had recently said that Amazon has 200 million Prime members worldwide, which, has been a huge factor in bolstering Amazon’s position as an e-commerce leader, believe many experts.
Yes, Amazon is emerging strongly from the pandemic – as the numbers indicate – but it would definitely like to take a look at the operation of its physical stores carefully, where Walmart and Target, reportedly, have an edge over Amazon.