Amazon struggled early in the pandemic, but rebounded with record sales. Disney got a huge boost for its streaming service, while its other businesses were hit hard. Store closures wiped out $2 billion in sales for Macy’s this spring—but after the pandemic, it could be one of the last department stores standing. Here’s how a dozen major companies have navigated the Covid era.
Amazon.com competitors have gained ground in the digital world since the pandemic began. Early on, Walmart , Target and others grabbed market share from Amazon, which initially struggled with handling a massive influx of orders. Amazon has spent billions of dollars in responding to the pandemic.
Amazon has largely recovered from its early problems and is capitalizing on the acceleration of e-commerce caused by the pandemic. Its share of online shopping has been back on the rise, and it is expanding its workforce in anticipation of continued demand. No company can match its online fulfillment operations, positioning it well for years to come. Its market value has soared this year.
SURPRISING STRATEGY MOVE
During the early days of the pandemic, Amazon made an unusual move to retool its website to encourage shoppers to buy fewer items. Amazon removed most of its popular recommendation widgets that show shoppers what other people were buying and scaled back online coupons. The strategy helped Amazon gain back control of its supply chain.
Amazon’s quarterly sales from April through June, a record.