Amazon sales are up 24% last quarter. How much are your sales up?
If they’re not up 24%, it likely means that Amazon is taking your customers and your neighboring business’ customers.
Do you buy from Amazon at home? Or for your store? If so, you may be helping sharpen your executioner’s sword by 24%.
While the Times paints the quarter as a mixed bag, I believe this is great news for Amazon. It also shares that Amazon’s advertising revenue is up 45% and that Amazon Web Services Is up 35%. Do you have an advertising arm? A web hosting arm? Likely not. What that 45% and 35% mean is that Amazon has access to massive capital to “steel dump” its retail arm on your business, akin to how Japan dumped steel on the American economy in the 1980s (thanks to Scott Galloway for that insight). While our government in the ‘80s fought to stop that unfair practice, today’s government leaders recently competed for a new Amazon HQ. Takeaway: they’re not fighting for you as much they should. The irony is our government depends on tax revenue and communities—two things for which Amazon is a cancer. A few presidential candidates seem to grasp the urgency, but their future is uncertain.
Assuming our government won’t help, what is our industry going to do to stop this war machine? Your business, my business, and our communities depend on it.
Our retailers’ sales are up 23% via Bridge. We attribute this to their hard work and Bridge improving the software every day to make retail easier for indie stores, brands, reps, and customers.
Read the full article about Amazon’s quarterly results here: