Last year, Amazon once again outpaced the ecommerce market growth in both Germany and the United Kingdom. Its revenue reached 39.6 billion euros and 36.7 billion euros, respectively. The American company has managed to withstand the rising competition from Chinese platforms, with growth in the United Kingdom accelerating even.
This is evident from Amazon’s financial annual report. Globally, the company recorded revenue of 617.5 billion euros (638 billion dollars), an increase of 11 percent compared to 2023. Net profit doubled to over 57.1 billion euros (59 billion dollars).
Online store sales reached 239.1 billion euros
Key growth sectors included Amazon Web Services (AWS) and advertising services. Revenue from the two primary business divisions also increased: online store sales reached 239.1 billion euros, or 247 billion dollars (up 6.5 percent), while third-party seller services generated 151 billion euros, or 156 billion dollars (up 11.5 percent).
In its report, Amazon specifies only the “net sales attributed to countries that represent a significant portion of consolidated net sales”, namely Germany, the United Kingdom, and Japan (up 5.4 percent). Revenue from the ‘Rest of the World’ segment inreased 14.5 percent.
Amazon in Germany
Germany remains Amazon’s most important international market, accounting for 6.4 percent of the company’s total revenue (with a revenue of 40.9 billion dollars). However, growth has slowed compared to 2023, when the company recorded an 11.9 percent increase, partly driven by a strong rise in retail media sales (up 20.6 percent). It remains unclear how this trend has developed in 2024.
Germany accounts for 6.4% of Amazon’s total revenue
Amazon is the established market leader in ecommerce in Germany, which is also Europe’s top market for rapidly growing Chinese platforms like Temu and Shein. Amazon has again outperformed general German ecommerce spending, which saw a slight growth last year after two years of decline.
Amazon in the United Kingdom
In the United Kingdom, Amazon achieved double-digit revenue growth of 12.7 percent, surpassing its global growth rate. Revenue totaled 37.9 billion dollars. Unlike in Germany, Amazon saw an acceleration in growth in the United Kingdom (following an 11.7 percent increase in 2023), showing resilience despite the rapid rise of Chinese platforms there as well.
The American company is investing in fast delivery and pickup points to continue to lead the way in ecommerce in the United Kingdom. Over the past year, Amazon has delivered more than one billion products to Prime members in the United Kingdom on the day of order or the following day.
