The loosening of lockdown restrictions around the world meant Amazon’s customers were increasingly “doing things besides shopping”, the ecommerce company said, as it posted weaker than expected sales for the year’s second quarter.
Dragging Amazon’s top line was its core online store business, which grew 15 per cent, the slowest rate since 2019, despite it bringing forward its flagship Prime Day sales event to June.
Brian Olsavsky, Amazon’s chief financial officer, told reporters the deceleration was “essentially a combination of lapping last year’s Covid strength”, when demand for online shopping surged to record levels.
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