 | May 9, 2020 |
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| Amazon posts highest e-commerce growth in over three years. |
Amazon's online and in-store sales took off in Q1 as the pandemic pushed consumers to shop online and visit Whole Foods stores.
The e-commerce giant posted major jumps in annual sales growth despite placing various restrictions on its services to adjust to the pandemic, suggesting its performance could reach new heights as it rolls those limitations back.
CEO Jeff Bezos noted in the company's earnings release that Amazon plans to spend billions of dollars in Q2 to adjust to the pandemic, which could help shore up its leading position in US e-commerce even further.
Business Insider Intelligence's Daniel Keyes has the full story. |
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