Amazon has had its “biggest holiday season to date” seeing both the retailers and its owner expand their staggering wealth while retail at large flounders.
Early Christmas shopping, the pandemic-driven online boom and continued lockdowns have driven more shoppers than ever to Amazon this Christmas.
In a blog post the retail giant thanked its “customers, employees and selling partners” alike for creating record demand on its platform.
While Amazon does not release its blow-by-blow sales figures, it said third-party retailers selling on its marketplace made $4.8 billion from Black Friday to Cyber Monday, up 60 per cent from last year.
A further 71,000 small and medium sized business saw sales top $100,000 this holiday season, Amazon said.
According to the Bloomberg Billionaires Index, Amazon’s founder Jeff Bezos’ net worth has increased $76.1 billion to $191 billion this year, the equivalent of New Zealand’s GDP.
As Washington Post data reporter Christopher Ingraham pointed out on Twitter, Bezos could give each of his 876,000 Amazon employees a $105,000 bonus and he would still be as rich as he was at the start of the pandemic.
If Jeff Bezos gave all 876,000 Amazon employees a $105,000 bonus, he'd be left with exactly as much money as he had at the start of the pandemic. https://t.co/mCyl9MXFXk
— Christopher Ingraham (@_cingraham) September 10, 2020
The news comes after two of the UK’s largest high street retail chains Arcadia and Debenhams fell into administration, putting 25,000 jobs at risk.