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Amazon UK has seen record profits in 2020, despite the economic downturn caused by the coronavirus pandemic. The online retailer reported that its UK sales had increased by more than a third in the first quarter of 2020, with profits of £2.3 billion. This is the highest quarterly profit ever recorded in the UK market.

The increase in profits is largely attributed to the surge in demand for online shopping as consumers are forced to stay at home due to the pandemic. The demand for Amazon’s Prime service has also seen significant growth, with the number of subscribers reaching an all-time high of 9.5 million.

The surge in profits has been driven by a number of factors, including increased sales of Amazon’s own products, such as Alexa-enabled devices and Amazon Prime Video, as well as the growth in third-party sellers on the platform. Amazon’s cloud computing services, Amazon Web Services (AWS), have also seen a dramatic increase in usage due to the shift to remote working and online learning.

The strong performance of Amazon UK in 2020 is in contrast to other companies who have been hit hard by the pandemic, and it is clear that the online retailer is well-positioned to capitalise on the new normal. Amazon is continuing to invest heavily in its infrastructure, with plans to create more than 10,000 new jobs in the UK over the next year.

This record breaking performance from Amazon UK is a testament to the company’s commitment to providing customers with a reliable and convenient shopping experience, and it is likely that the company’s profits will continue to grow in 2021. With the emergence of a new normal, Amazon is well-placed to continue to dominate the online retail market in the UK.
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