Currently, the retail business, and especially e-commerce, has practically reached the skies. As a form of analogy, when the founder of Amazon and one of the richest men in the world, Jeff Bezos, boarded his spacecraft a few weeks ago, he also took the first paying passenger into space for a trip on a rocket entirely built and operated by the same private company as Bezos.
From the economic strength that Amazon gave him, now, with Blue Origin, Bezos has taken the idea of the private space that travels to a new level of development, investing heavily in the goal of making space travel possible for wealthy individuals in the near future.
But his first major global economic success, Amazon has become an incomparable company.
Today it is one of the best performing and most valuable companies in the world. Including all segments of the company, Amazon Inc. posted record year-on-year net sales growth of 44% as of the fourth quarter of 2020, reaching a total of US $ 125.6 billion.
In the US e-commerce market, Amazon is not only by far the largest first-party online retailer, Rather, it generated a net sales amount three times higher than Walmart, which ranks second.
In fact, Amazon has become so powerful that its value exceeds the total economic performance of several strong economies in the world.
In August 2021, Yahoo Finance highlighted that Amazon’s market capitalization amounted to 1.7 trillion dollars.
A comparison with the GDP figures of the selected economies illustrates the importance of this number and, therefore, the economic power of Amazonas strong global economies such as Italy, South Korea, Canada, and Russia reached 2020 GDP figures that are comparable to Amazon’s current market capitalization.
The United Kingdom and France, which by the way are among the top 10 e-commerce markets in the world according to Statista Digital Market Outlook, they reach GDP figures that are not much higher than Amazon’s market capitalization, at $ 2.5 trillion and $ 2.4 trillion, respectively.
Only the GDP of the world’s leading economies, such as the United States or China, is many times greater than the current market capitalization of Amazon. Countries like Turkey, Mexico, Spain or Indonesia are quite far when comparing their GDP with the market capitalization of Amazon. With respect to the Mexican economy, it is 36.3% higher.
At $ 848 billion, Turkey’s GDP in 2020 was about half that of Amazon’s current market capitalization.
https://ecommercedb.com/ and Statista
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