Amazon experienced significant growth during the pandemic as more people turned to online shopping to avoid going to physical stores. As lockdowns and social distancing measures were put in place to slow the spread of COVID-19, many people began to rely on Amazon for their daily needs, from groceries to household items.
In the first quarter of 2020, Amazon’s net sales increased by 26% compared to the same period the previous year, with revenue of $75.5 billion. The company’s net income also increased by 29% to $2.5 billion.
To meet the increased demand for its services, Amazon hired over 400,000 new employees in 2020, and invested heavily in new technologies and infrastructure, such as robotics and fulfillment centers.
However, the increased demand also put pressure on Amazon’s logistics and supply chain operations, and the company faced criticism from some workers and labor advocates over safety concerns and working conditions in its warehouses.
Despite these challenges, Amazon’s overall financial performance during the pandemic was strong, and the company continued to expand its business and services, including its Amazon Web Services (AWS) cloud computing division and its Amazon Pharmacy online prescription service.
