Amazon has reported $87.4 billion in net sales for Q4 2019, up 21% from the same period last year.
The company which is fast posing to be a viable competitor to the duopoly that is Facebook and Google generated $4.8 billion in ad revenues, representing an increase of 41% year-on-year for the quarter.
Its annual revenues were up 39% to $14.1 billion thanks to strong ad sales.
Amazon said that ad sales had been growing at the same pace during the last two quarters of last year.
One strategy that seems to be paying off for the eCommerce giant is a stronger focus on brands as opposed to just advertising.
By helping brands generate better connections to consumers, they’re able to engage in a more meaningful way with consumers.
At the same time, US consumers continue to rank Amazon as their favourite eCommerce platform according to a 50,000 person poll measuring quality and value.
UK consumers were equally satisfied ranking Amazon their number 1 in terms of customer satisfaction.
Furthermore, Amazon Web Services announced that it added several enterprise clients such as GoDaddy, Cox Automotive, Shutterfly and NextGen healthcare.