Amazon celebrates record-breaking holiday sales
Amazon has broken records this holiday shopping season after deliveries “nearly quadrupled compared to last year”, sending its shares soaring.
The ecommerce giant saw its shares jump more than four per cent on Boxing Day after reporting a record-breaking festive season, marking the most successful day for its stock since January 30th.
It attributed its improved logistics network, in which it has invested nearly $1 billion this year, to the stellar rise in stock as more and more people took advantage of its one-day delivery offer.
“This holiday season, the number of items that were delivered with Prime Free One-Day and Prime Free Same-Day Delivery nearly quadrupled compared to the same time period last holiday season, making this Amazon’s fastest holiday yet,” Amazon said on Thursday.
Furthermore, Amazon said that more people signed up to Amazon Prime this holiday season than ever before, while 60 per cent more customers shipped items to Amazon pick-up points than last year.
This recent boon in stock price mean Amazon’s shares are up 37 per cent compared to the same day last year, raising its market value to $926.5 billion.
This is a market improvement in its stock performance compared to the beginning of December when trade tensions, holiday winter storms and high holiday demand led many to offload shares.