Amazon has spent years honing the business of packing, shipping and delivering millions of products to doorsteps around the world.
Now it has a captive audience.
With much of the globe in various stages of a lockdown because of the coronavirus pandemic, the world’s largest online retailer has become a lifeline to many shoppers. But it is also grappling with delivery delays and mounting complaints from workers who worry about contagion while on the job.
The company’s website hit 2.54 billion visitors for the entire month of March, according to online research company Comscore. That marks a 65% jump from the same period last year. Amazon will report quarterly earnings on Thursday, providing a first glimpse into its financial performance during the pandemic.
Discounters like Walmart and Dollar General that sell essential products have seen their shares soar 8% and 15% respectively. But Amazon has been a standout, with its stock up 22% so far this year. That’s in contrast to the S&P, which has slid 11%. Amazon is also hiring 175,000 more workers at a time when many businesses have cut back and are seeking federal aid.