Like many of its tech industry peers, Amazon started 2020 predicting strong sales growth. Now mounting fears of a pandemic and the related economic fallout has put those rosy projections in question. — AFP
Chuck Gregorich, who sells China-made patio furniture on Amazon.com Inc, expects to lose as much as US$2mil (RM8.45mil) in sales this year due to factory closings and other coronavirus-related slowdowns. So he’s cutting his ad spending on Amazon and thinking about raising prices to avoid running out of inventory. The sudden shift in sales tactics by merchants like Gregorich threatens Amazon’s fastest-growing and profitable revenue source.
"If we’re going to run out, why not run out at full price,” he says. "We have to make sure the sales we have are as profitable as they can be."
Limited time offer:
Just RM5 per month.
