After two years of strong growth, the landing is painful for the e-commerce champion.
Coming out of the pandemic is not good news for Amazon. The end of confinements, the resumption of a more normal life for millions of its customers, now less dependent on home deliveries, affects the e-commerce giant.
Sales growth was just 7% in the first quarter, the slowest pace in nearly two decades. Amazon’s turnover thus reached 116.4 billion dollars. Worse, the group posted a loss of 3.8 billion dollars. This is attributable both to the devaluation of Amazon’s stake in the manufacturer of electric vehicles Rivian, for 7.6 billion dollars, and to the overall economic context.
Amazon is falling victim to the ills plaguing other companies in these troubled times: its supply chains are still disrupted, its labor costs are rising, and inflation is spoiling the favorable environment it has long enjoyed. The…