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In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging

Business Insider

Business Insider · 8m ago

In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging

Sales of cheap items on Amazon are experiencing a surge, growing 50% faster than other items, according to the company's retail CEO Doug Herrington. The increased sales are attributed to faster delivery speeds, which prompt customers to spend more and shop more frequently. Amazon has been investing in its warehouse and logistics network to offer faster and more affordable delivery. The shift towards cheaper products marks a departure from Amazon's previous strategy, and is seen as a way to better compete with Chinese e-commerce rivals. The company is also investing in warehouse robotics technology and expanding its rural area network and drone delivery service.

Related News

Amazon says consumers cautious, forecasts revenue below targets

Economic Times

Economic Times · 11m ago

Amazon says consumers cautious, forecasts revenue below targets

Amazon reported slower online sales growth in Q2 due to cautious consumers seeking cheaper options for purchases. Despite beating profit and cloud computing sales estimates, Amazon's stock dropped nearly 8%. It was revealed that consumers were trading down on price and looking for deals, hurting Amazon's online retail business. Competitors like Temu and Shein, offering discounted goods from China, added to the pressure. The company's AWS segment reported a 19% increase in revenue, surpassing estimates. However, Amazon's Q3 sales forecast fell below expectations, contributing to the stock sell-off.

Amazon Web Services lays off hundreds of tech, sales staff: report

Economic Times

Economic Times · 1y ago

Amazon Web Services lays off hundreds of tech, sales staff: report

Amazon Web Services has reportedly laid off hundreds of employees in its physical retail technology unit, as well as in its sales, marketing, and global services division. The layoffs are said to be part of a wider reorganization under sales chief Matt Garman. Amazon and AWS have not responded to requests for comment on the reported cuts.

US online spending surges $24.1 billion as steep discounts boost sales, Adobe says - The Economic Times

Economic Times

Economic Times · 5d ago

US online spending surges $24.1 billion as steep discounts boost sales, Adobe says - The Economic Times

From July 8 to 11, US online spending soared to $24.1 billion during the "Black Friday in Summer" sales, outpacing Adobe Analytics' forecast. Major retailers, including Amazon, Walmart, and Target, offered deep discounts, boosting mobile shopping and back-to-school purchases. Apparel saw the steepest discounts at 24%. The events, including Amazon Prime Day, drove significant consumer participation, with online retail sales rising 30.3% over projections. Mobile transactions led, accounting for 53.2% of sales.

Appario looks for a new way to keep selling on Amazon

Economic Times

Economic Times · 1y ago

Appario looks for a new way to keep selling on Amazon

Appario Retail, the largest seller on Amazon India, may change its plans to shut down its seller entity. Amazon and Patni Group, the joint venture partners of Appario’s parent firm Frontizo, had initially planned to shut down the seller entity. However, instead of stopping sales on Amazon India, Patni Group and Amazon are exploring options to bring in a new joint venture partner to replace Amazon for Appario Retail. Talks are ongoing to find a legally sound solution, allowing Appario to continue selling on the marketplace. Appario is a crucial seller for Amazon, accounting for a significant volume of orders.

This Is Why High-End Electric Cars Are Failing

Wired · 23d ago

This Is Why High-End Electric Cars Are Failing

High-end electric vehicles are struggling due to high prices and performance limitations compared to internal combustion engine (ICE) counterparts. Legacy automakers like Mercedes and Porsche face low sales for their premium EVs, as consumers prefer cheaper ICE models. The market demands affordable, mass-market EVs, a challenge that Chinese manufacturers are addressing. A shift away from luxury-focused models to affordable, accessible electric vehicles could drive wider EV adoption and improve the charging infrastructure, reminiscent of the Model T's impact.

Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows

Economic Times

Economic Times · 7m ago

Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows

Walmart, Amazon, Shein, and PDD Holding's Temu had a successful Black Friday and Cyber Monday sales period, outperforming retailers like Target and Best Buy. Walmart saw an increase in sales, with top-selling items including pre-owned Rolex watches and singer Sabrina Carpenter's perfumes. Amazon, Walmart, Temu, and Shein experienced growth in sales during this period, while Best Buy struggled. Despite exclusive merchandise partnerships, Target's sales performance was muted. Overall, ecommerce sites performed well during the holiday season, with record-breaking sales recorded by key players.

Leaked images reveal Microsoft’s white disc-less Xbox Series X console

The Verge

The Verge · 1y ago

Leaked images reveal Microsoft’s white disc-less Xbox Series X console

Microsoft is reportedly working on a white version of its Xbox Series X console, which will be a disc-less system. Leaked images show that the white Xbox Series X will have the same exterior design as the existing black console and will feature upgraded internal components such as a modified heatsink for improved cooling. Reports suggest that this white version could be released in June or July, possibly for a lower price than the current retail price of $499. This release, if it happens, may indicate that Microsoft has postponed or canceled the previously leaked cylindrical design refresh of the Xbox Series X.

boAt Begins Probe After Personal Data Of Over 7.5 Mn Users Leaked On Dark Web

Inc42 · 1y ago

boAt Begins Probe After Personal Data Of Over 7.5 Mn Users Leaked On Dark Web

The personal data of over 7.5 million boAt customers has reportedly been leaked on the dark web. The leaked information includes sensitive details like names, addresses, contact numbers, email IDs, and customer IDs. boAt, a popular audio products and smartwatch manufacturer, has launched an investigation into the incident. The cause of the breach is still unknown, but it is suspected to be the result of either an internal issue or a misconfigured third-party database. boAt is known for its sales in the audio and wearables markets and has seen significant revenue growth in recent years.

Prime Day event drove over $24B in U.S. e-commerce sales, gen AI traffic was up 3,300% | TechCrunch

TechCrunch · 3d ago

Prime Day event drove over $24B in U.S. e-commerce sales, gen AI traffic was up 3,300% | TechCrunch

Amazon's Prime Day significantly boosted U.S. e-commerce, with generative AI-driven retail traffic surging by 3,300% year-over-year, and $24.1 billion spent online over four days. This growth was slightly higher than Adobe Analytics' $23.8 billion estimate. AI-driven shopping, though rising, remains smaller than channels like email and paid search, which accounted for 28.5% of sales. Social media influencers also played a major role, driving 19.9% of sales, converting shoppers 10 times more effectively than general social media.

Trade tensions are giving Intel's older chips a second life

Economic Times

Economic Times · 2m ago

Trade tensions are giving Intel's older chips a second life

The Sino-US trade tensions are leading to increased demand for Intel's older generation chips as customers seek cheaper alternatives amid economic uncertainty. Despite facing potential impacts from tariffs, Intel reported strong first-quarter sales due to stockpiling, although it cautioned about future market conditions. Intel's finance chief expressed concerns over increased economic slowdown risks due to fluid trade policies. The demand for older chips potentially affects the adoption of Intel's new AI-oriented PC chips.

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