- Insider Intelligence forecasts that Amazon’s retail ecommerce sales worldwide will reach $746.22 billion in 2023.
- Net sales increased 15% to $127.1 billion in Q3 2022, up from $110.8 billion in the third quarter of 2021, according to the most recent Amazon quarterly earnings report, released in October of 2022.
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Amazon is the world’s top retailer, reigning larger than the next 14 largest US retailers combined. While the ecommerce giant’s online stores remain its biggest revenue stream, there are many o3
In its quarterly filings, Amazon describes the “other” segment as “sales related to various other offerings, such as certain licensing and distribution of video content and shipping services, and our co-branded credit card agreements.”
Amazon’s “other” segment saw an 168% growth YoY in Q3 2022, with more than $1.26 billion in sales, per Amazon’s most recent quarterly report. “This could potentially be attributed to the closing of its $8.5 Billion MGM acquisition earlier this year,” said Billy Duberstein, investment journalist at the Motley Fool. “However, this doesn’t explain its 18% quarter-over-quarter growth in this area’s revenues.”
Despite the unknowns, “something within the segment has been growing at an exponential rate over the past two quarters. Amazon is known to experiment a lot to develop new products and services, so it’s something to watch going forward,” said Duberstein.
Amazon revenue growth and forecasts
Amazon’s net sales increased 15% to $127.1 billion in Q3 2022, up from $110.8 billion in the third quarter of 2021.
Retail ecommerce has endured some setbacks in 2022, including sales losses in certain divisions, layoffs, and technology falling short of expectations. However, technologies such as Web3 and internet of things (IoT) can open doors for commerce if brands can tap into its potential. For example, “Smart TVs, connected homes, and connected cars have not only proliferated, but are undergoing transformations to make them more responsive and easier to use in 2023,” according to Jessica Lis, analyst at Insider Intelligence.
To stay up to date on Amazon revenue growth, our retail and ecommerce industry clients have been leveraging our 2022 Power of Amazon report, which sheds light on which Amazon’s business divisions are best leveraging Amazon’s market dominance to establish themselves in new industries; and what experiments can help the retail giant test, learn, and iterate to ensure long-term success.
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