According to a report by ecommerceDB amazon.com produces 50% of Amazon's Gross Merchandise Volume.
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Amazon was recently named the most valuable brand in the world. It is widely considered the most successful online store in Western countries, such as the United States, Germany, France, and the United Kingdom.
It is also one of the largest employers worldwide and outperforms retail heavyweights such as Walmart on several criteria.
Yet amazon’s revenue comes from different streams, including cloud services, advertising, and subscription. From all these sources is, the marketplace business the one that provides the best results, measured by Gross Merchandise Volume.
In 2021, Amazon generated more than $103 billion from third-party selling services, a share of total revenue that has grown steadily in recent years. Yet the total GMV produced by Amazon's various marketplace URLs is much higher.
To dig even deeper into Amazon's marketplace business, ecommerceDB has prepared a detailed breakdown of GMV numbers by Amazon's top domains:
This is not surprising, as the .com domain is Amazon's primary URL and is active in many countries, including some with a local URL.
Of the local domain:
In terms of GMV growth, Amazon's top 5 URLs rank differently:
Between 2020 and 2021, amazon.ca grew by more than 33%, outperforming Amazon's other top URLs by a very wide margin.
Together, these two URLs primarily drive Amazon's average GMV growth of 22%. However, it is still notable that the top 5 URLs grew at double-digit rates between 2020 and 2021. This has helped Amazon secure its position as the world's largest marketplace, extending its lead over Chinese marketplaces Taobao and Tmall.
Recently Amazon's CEO, Andy Jasy, announced in a statement that the job cuts due to the crisis facing the sector - due to economic uncertainty - will affect more than 18,000 workers.
This figure is significantly higher than the 10,000 announced by The Wall Street Journal in November, when the Seattle company began to lay off employees in the commercial area, recruitment, and device retailers.
The truth is Amazon is struggling to reduce its operational costs amidst a looming global recession. And the layoffs announced will most likely be followed by a second group of measures to contain and reduce logistics and operational costs, such as a removal of the ‘free returns policies’ or higher costs for Amazon Prime subscriptions, among other measures the experts believe could be announced during 2023.
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