Headlines

Amazon Sales Reach $332 Billion YTD

Despite lower profits in Q3, company sales are up 15 percent.

Published

2 years ago

November 6, 2021

INSTORE Staff

An Amazon Four Star Store. Photography: JORDAN STEAD / Amazon

Amazon (Seattle) sales have reached $332 billion year to date, according to Forbes. Though company profits fell in the third quarter, sales are still up by 15 percent this year. Amazon says they are implementing strategies for “deeper customer loyalty.”

Part of this profit decline comes from Amazon’s recent investments into its fulfillment network, which it has nearly doubled since the start of the pandemic.

Amazon predicts billions in additional cost next quarter as well, as the company continues to navigate supply chain issues, labor shortages and other ramifications from the pandemic.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”