"Amazon’s advertising division is pulling in big bucks as its marketplace merchants jockey for position amid the pandemic-fueled eCommerce boom.
The tech behemoth is tracking to post its first $100 billion quarter, with an estimated $21 billion coming from annual advertising dollars alone, the Financial Times reported on Tuesday (Dec. 29), citing FactSet data.
Amazon’s crowded digital marketplace has caused merchants to step up their advertising on the site in order to be more visible in search results. The eCommerce giant's advertising business is currently growing faster than its retail, cloud and Prime subscription divisions.
The 47 percent increase in advertising dollars over last year has helped Amazon become a formidable rival to Google search, which has dominated online advertising."
Source: PYMNTS, citing a report in the Financial Times, 29th December 2020
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