Americans Are Splurging On Amazon Each Month: For Some, It Could Be More Addictive Than Alcohol
Portfolio Pulse from Chris Katje
A survey from Upgraded Points reveals that Americans spend an average of $91.75 monthly on Amazon, with Prime members spending an average of $110 monthly. The survey also found that 33% of respondents have spent more on Amazon in the last year than what they currently have in their savings account. Amazon reported revenue of $127.4 billion in Q1 2023, up 9% YoY, with North American sales making up $76.9 billion of the total. The company's market capitalization stands at $1.32 trillion.
July 11, 2023 | 10:28 pm
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POSITIVE IMPACT
Amazon's high average monthly spending by Americans, especially Prime members, and its strong Q1 2023 revenue growth indicate a positive outlook for the company.
The survey results show that Amazon's customer base is highly engaged and spends significantly on the platform, especially Prime members. This, combined with the company's strong Q1 2023 revenue growth, suggests a positive short-term impact on Amazon's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100