Amazon Prime Day Sales Plunge 41%
A look at the decrease in sales during Amazon's annual Prime Day event and possible causes.
Amazon.com Inc News and Analysis
About Amazon.com Inc
Amazon.com, Inc. is a pioneering American multinational technology company renowned for its dominant role in e-commerce, cloud computing, digital streaming, online advertising, and artificial intelligence[1]. Founded in 1994 by Jeff Bezos in Bellevue, Washington, Amazon started as an online bookstore and rapidly expanded into “The Everything Store,” offering a vast range of products from books and electronics to groceries and beyond[1][2]. This evolution was driven by a relentless focus on customer needs—lower prices, greater selection, and convenient services—a philosophy that remains central to Amazon’s mission today[3]. A key driver of Amazon’s success has been its innovative use of technology and logistics. The company revolutionized online shopping with features like customer reviews, 1-Click ordering, and personalized recommendations, setting new industry standards for convenience and efficiency[3]. Amazon Web Services (AWS), launched in 2006, became a global leader in cloud computing, powering businesses and governments worldwide and contributing significantly to Amazon’s profitability and growth[1]. Amazon’s expansion has been marked by strategic acquisitions and diversification. The purchase of Whole Foods Market in 2017 for $13.4 billion marked its entry into brick-and-mortar retail, while the acquisition of Metro-Goldwyn-Mayer (MGM) in 2022 bolstered its entertainment offerings through Amazon MGM Studios[1]. The company also operates subsidiaries like Ring (smart home security), Twitch (live streaming), IMDb (entertainment database), and Audible (audiobooks)[1]. Amazon’s consumer electronics, including Kindle e-readers, Echo smart speakers, and Fire TV devices, have further cemented its presence in households globally[1]. Financially, Amazon continues to thrive. For the first quarter of 2025, it reported a 9% increase in net sales to $155.7 billion, reflecting sustained growth despite a challenging economic climate[4]. Amazon’s workforce is vast
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