Amazon Sales Hitting Records Again!
If you were to interview Jeff Bezos, founder of Amazon.com, about this so called recession I am sure he would respond with “What recession…. Seriously there’s a recession right now?”
Here is an excerpt from a report on CNN Money:
Apparently doing one thing well is enough, at least for now. Amid the malaise of the retail sector, Amazon (AMZN, Fortune 500) blew past expectations when it reported 24% year-over-year earnings growth in the first quarter. A key driver was Kindle DX’s predecessor, Kindle 2, a $359 device that made its debut in February. As consumers everywhere curtailed spending, Kindle 2 was flying off Amazon’s virtual shelves. “Kindle sales have exceeded our most optimistic expectations,” Bezos declared at the time.
I believe the success of Amazon and more importantly this recession proof company does so well because of their global reach via the internet. While there are massive job losses in some sectors it’s only impacting roughly 10% of the population, while unemployment rates of 10% and more in some cases may seem morbidly high, that leaves 90% of the population still doing well and that 90% is still spending.
And my belief is that Amazon.com continues to grow in these tough economic times largely due to the fear of the masses.
You see, what I believe is employers are using these news stories of doom and gloom to get more working hours out of their employees because they can get away with. Employees are more than willing to put in 16 to 18 hour working days for fear that if they don’t their employer will fire them.
But these worked to the bone employees still need to shop for stuff and they are turning to Amazon to order things they want or buy gifts online from their place of employment which is of course putting Amazon.com right in the eye of the perfect storm to profit from the fear of the world
Perhaps it’s time you started an online business to take advantage of this once in a lifetime opportunity or if putting in an 18 hour work day makes you happy then you can always order a gift for your child’s birthday from work by shopping at Amazon.com