News

Amazon sales up but a bit slower growth this past holiday season

February 5, 2019

Amazon's sales are still going up but not as fast as in the past, and it's spending more than ever on shipping to lure customers.

Revenue from retail sales and services increased 17 percent in the fourth quarter ended Dec. 31, 2018, hitting nearly $65 billion, and overall profit hit $3 billion, a healthy 60 percent jump compared to the same quarter in 2016.

The New York Times reported Amazon is spending more to offer enticing shipping options given competitor moves when it comes to shipping and delivery. Shipping costs spiked 23 percent compared to a year ago, noted the report.

During the quarter Amazon launched pop-up stores to customers in six countries across Europe during the holiday season, according to a press release. Amazon Fashion launched Prime Wardrobe in Japan and the U.K.

It also expanded free grocery delivery and pickup from Whole Foods Market through Prime Now. Grocery delivery is available in more than 60 U.S. metros and pickup service is available in more than 20 U.S. metros with plans for continued expansion.