Business
Jeff Bezos’ pandemic windfall: Amazon posts record profits as online shopping boom continues – The New Daily
Amazon made a whopping US$6.3 billion profit in the third quarter of 2020 – prompting analysts to urge local retailers to improve their online offerings.
Have you shopped online for the first time in your life during the pandemic?
Well, you’re not alone.
Research from Australia Post shows 900,000 households shopped online for the first time and 8.1 million shopped online in total between March and August.
According to the Australian Bureau of Statistics, online purchases made up 11 per cent of total retail turnover in August up from 6.4 per cent in August 2019.
And Amazon has been a major beneficiary.
On the same day that it reported a record third-quarter…
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