image credit: Unsplash

Amazon services outpace retail growth in Q1

May 1, 2024

Retail is increasingly looking like a side gig for Amazon, supported by its more lucrative services.

Amazon’s non-retail operations in advertising, subscriptions and third-party services, along with AWS, generated $82.1 billion in net sales in the first quarter, far surpassing the $59.9 billion from its online and offline stores. Even taking out AWS, the retail-related services are catching up, generating $57.1 billion. Moreover, third-party sellers now move 61% of goods sold from its site. Amazon also generates sales from “other” services, including health care, licensing and distribution of video content, shipping and credit cards.

Read More on Retail Dive