- Amazon’s cloud business reported $9.95 billion in sales – 34% more than a year-ago quarter.
- In 2018, net sales of Amazon stood at $280.5 billion compared to $232.9 in 2018.
- Net income witnessed increment to $11.6 billion last year as compared to $10.1 billion in 2018.
eCommerce giant Amazon is giant than ever before. Our everything store entered a $1 trillion clubs. For now, Amazon’s market capitalization stands at around $1.02 trillion.
3 tech giants were already in $1 trillion club – Apple, Microsoft & Alphabet. Now worldwide recognized eCommerce giant Amazon joins the club. However, Amazon silently achieved this milestone 2 years ago but only recovered it last night as shares reached an all-time high.
Jeff Bezos, CEO of Amazon said that Prime membership continues to contribute to the growth of the company. “And customers are responding as more people joined Prime this quarter than ever before, and we now have over 150 million paid Prime members around the world,” – said Bezos.
Probable reasons for eCommerce giant hitting a $1 Trillion mark:
- Members of Amazon Fresh have free 2-hour grocery delivery in more than 2000 US cities and towns. With this level of service quality, people have no reason for NOT using Amazon.
- There are now hundreds of millions of Alexa-enabled devices and customers talk to Alexa several times a day.
- Fire TV now has more than 40 million active users globally.
- BMW & Fiat Chrysler automobiles are the 1st car makers said to introduce Fire TV in their future vehicles.
- Amazon Music has more than 55 million customers worldwide.
- When Bezos visited India, eCommerce giant Amazon not only invested millions in the country, but the company is also eager to generate employment for the locals.
- There are more than 550,000 sellers on the Amazon India marketplace and 60,000+ Indian manufacturers and brands with Make in India products selling to customers worldwide.
- Since its launch (in 2013) amazon.in has created 700,000 direct and indirect jobs in India.
- A number of authors have published their books through KDP since the service was launched in 2007. Thousands of independent authors have earned more than $50,000.
- Even after people preferring Flipkart (over Amazon) for shopping, it’s still eCommerce giant globally.
By looking at the above reasons, one thing is very clear that Amazon is not just a giant in the eCommerce industry. The company wants to diversify and expand in various other sectors and seems to be on steroids.
Jeff Bezos’s high visions and strict work culture, Amazon is more likely to achieve a lot more than what the company has already achieved.
Next Big Brand congratulates eCommerce giant Amazon on crossing $1 trillion mark. We hope the company never stops when it comes to growth and diversification.