Frank Kochenash talks to the BBC about Amazon's Q1 results
Frank Kochenash, President, Marketplace Services at Wunderman Thompson Commerce USA, talks to Maryam Moshiri, Chief News Presenter at The BBC World Service and BBC1 TV, to discuss Amazon’s Q1 results.
Frank spoke about the substantial rise in sales that Amazon has seen over the last quarter, and the effect of COVID 19 on profits. Revenues jumped to $75.5bn in Jan to March, a rise of 26% on the same period last year, but profit was down 29%, to $2.5bn. Amazon said they were spending heavily to reach the increase in demand and to meet the challenges of the pandemic as people shift to buy more online during lockdown.
Maryam and Frank also discuss how Amazon are coping with the surge they’ve seen during the pandemic and how they are responding, given the little time or warning they have had to prepare for this peak.
They consider the high demand for certain products such as consumables and grocery products and the impact this is having on the supply-chain, as well as how it has tested their resolve to react quickly.
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