While shopping in my local Co-op before Christmas, I overheard two older customers discussing their seasonal buying. “I did all of my Christmas shopping on Amazon this year,” one said. “It’s so easy. But I do feel guilty about it.”
That shopper was not alone, as Amazon’s stellar results reveal. Globally, the online giant recorded sales growth of 20% during the year to December 2019, with a 21% jump in revenues during the crucial fourth quarter.
More than ever, it appears consumers opted for convenience over the busy holiday season, particularly when they already knew what they wanted to buy.
Holiday trading was “particularly strong from mid-November onwards”, according to chief financial officer Brian Olsavsky. Amazon exceeded not only its own expectations but those of analysts. So what is Amazon doing right, what can other retailers learn and how can they possibly compete?
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