Amazon’s sales are plummeting in Sweden, according to the company’s own figures submitted to the Swedish Companies Registration Office.
It writes Today’s industry
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Reduced e-commerce
According to Swedish Trade, e-commerce in Sweden is decreasing by 8 percent.
In total, it has a turnover of SEK 144 billion.
But Amazon, an e-commerce giant on a global scale, is losing ground.
The Swedish branch is growing and makes operating income of SEK 2.3 billion, which is an increase from the year before. But it’s getting harder to make money online.
Amazon is falling
Due to increased costs, it will still be in the red. The Swedish Companies Registration Office’s figures show an operating loss of SEK 3 million.
Last year, they made a profit of SEK 18 million instead.
Ikea furniture and eggplant
The company entered the Swedish market during the pandemic year 2020, when many e-commerce companies made great strides forward and took market shares from store sales.
Then the Swedes couldn’t get enough of their online orders of everything from prams and Ikea furniture.
Big players made billions on take-home food bags overflowing with fish sticks, Friday chips and fresh aubergine.
Betting on AI
The disappointment over Amazon’s sales in Sweden can probably be taken in stride.
Amazon is one of the world’s richest and most successful companies.
On Wednesday reported, among other things CNBC that Amazon made its largest venture capital acquisition ever, when it paid close to 2.75 billion dollars or 30 billion Swedish kronor to buy the startup Anthropic.
Calling a company that is valued at SEK 30 billion a startup is possibly a bit misguided.
Amazon believes that the company has great potential in artificial intelligence, AI.
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