Amazon set yet another record for sales in 2010, enjoying a 40 percent increase from 2009.
According to Amazon’s quarterly report, the company had its biggest quarter ever in the three months ending Dec. 2010. Holiday sales grew by 36% to a record $12.95 billion, marking the first quarter for the company to ever exceed $10 billion. For the entire year, revenue grew by 40 percent to $34.20 billion.
“Thanks to our customers, we achieved two big milestones,” said Jeff Bezos, founder and CEO of Amazon.com. “We had our first $10 billion quarter, and after selling millions of third-generation Kindles with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com. Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year, so this milestone has come even sooner than we expected – and it’s on top of continued growth in paperback sales.”
According to the report, for every 100 paperback books sold at Amazon, 115 Kindle Editions are now being sold, and against hard cover books the number has now reached three times as high. Amazon made it clear that the numbers do not include free books and those would drive the differences even higher.
With the news that Amazon is looking to expand AmazonTote to the entire country, the sky could be the limit for the company as they start delivering even more goods to your door. It’s only a question of how quickly the company can ramp up the infrastructure this undertaking is going to require. If people start turning to this company even for their groceries, the mind boggles at just how much money they could be bringing in.
What say you? Is Amazon growing bigger and bigger a good or bad thing for the world of business?