Online retail giant Amazon is set to announce record figures for the Christmas period, according to dailymail.co.uk. The online store apparently made billions in worldwide sales, with around ten per cent of it coming from UK customers.
Online retail giant Amazon is set to announce record figures for the Christmas period, according to dailymail.co.uk. The online store apparently made billions in worldwide sales, with around ten per cent of it coming from UK customers.
One of the biggest Wall Street banks, Morgan Stanley, has forecast that Amazon will report global sales of £14 billion, a rise of £4 billion compared to the previous year. For the full year, the company is predicted to have made nearly £40 billion, a figure that is projected to rise to £86 billion in 2015.
It appears consumers are increasingly turning to the internet to make their purchases with 1400 stores closing down over the Christmas period alone. RJ Hottovy, an analyst for US brokers Morningstar, said: “Without the cost burden of physical retail stores, Amazon can price below traditional rivals and drive recurring traffic online.”
According to bbc.co.uk online shopping is taking an ever-increasing section of the retail market. The simplicity of an online payment means customers don’t even have to get out of bed to make a purchase.
With the recent severe weather, having the option to shop online may have given people another reason to avoid the high street, using their laptops to shop for essentials instead.
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