Amazon had a good trading day.

January 29, 2009 – 8:06 pm – No Comment

Thanks to great 4th quarter sales due to its above-average holiday season, Amazon had a good day in trading today, up 13% in late trading.

Analysts have crowned Amazon the online winner of the holiday spending season, at a time when consumers dramatically cut back purchases. Executives cited its lowered prices and discount shipping program, Amazon Prime, that helped boost sales and encourage repeat purchases.

“It looks like they took a lot of market share and made substantial gains,” said Jeffrey Lindsay of Sanford C. Bernstein. “The good thing is that Amazon hasn’t had to discount to the extent that people feared to achieve this.”

Amazon is killing the competition at this point. While Circuit City is liquidating, Best Buy is cutting jobs and countless other retailers are scaling back, Amazon is flourishing? I think it may have something to do with more price conscious shoppers. When you can buy something on Amazon and pay a percentage of the price you can find the item for in an brick and mortar, chances are you’ll shop at Amazon…
Source