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Learn More →The Power of Amazon in 2023
What’s Next for the Titan’s 19 Business Divisions
Report by Grace Broadbent, Sky Canaves, Andrew Lipsman, David Morris, Carina Perkins, Lisa Phillips, Blake Droesch, Paul Verna, Kelsey Voss, Yoram Wurmser | Aug 14, 2023
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Table of Contents
The Power of Amazon in 2023
What Is the Power Rating?
Retail Ecommerce: Amazon’s growth is slowing, but it remains a dominant force.
Amazon Pay: The solution is gaining steam via partnerships.
Stores: New formats are paused as Amazon’s strategy returns to test and learn.
Grocery: Steady gains keep Amazon competitive in the digital market.
Just Walk Out: Store closures and cost-cutting efforts leave the tech stumbling.
Amazon Healthcare: The company faces challenges in becoming a pillar of the healthcare space.
Fulfillment by Amazon: The great ecommerce reset forces Amazon to rethink distribution.
Advertising: The retail media network pioneer maintains its dominance amid mounting competition.
Amazon Business: The leader’s growth in third-party B2B procurement is slowing.
Business Payments: Amazon is creating a more holistic offering.
Amazon Web Services: Competition threatens Amazon’s market-leading share in cloud computing.
Amazon One: The company remains a market leader in a nascent biometric payments space.
Ring Home Security: Security cameras are the focus of Amazon’s IoT strategy.
Echo and Alexa: Voice connectivity sits at a crossroads.
Kindle and Fire Tablets: OG Amazon devices retain their role as media platforms.
Fire TV: Amazon finds a hub for its media advertising flywheel.
Video: Amazon is firing on all cylinders.
Audio: Amazon is still finding its voice.
Gaming: Amazon needs to up its game to become a leader.
Media Gallery
About This Report
In the two years since our inaugural “Power of Amazon” report, Amazon has remained a retail and tech powerhouse—but it hasn’t been immune to economic uncertainty, shifting consumer behaviors, or increased competition. We examine how Amazon’s 19 business divisions have changed and how these new developments might affect your industry.
Table of Contents
The Power of Amazon in 2023
What Is the Power Rating?
Retail Ecommerce: Amazon’s growth is slowing, but it remains a dominant force.
Amazon Pay: The solution is gaining steam via partnerships.
Stores: New formats are paused as Amazon’s strategy returns to test and learn.
Grocery: Steady gains keep Amazon competitive in the digital market.
Just Walk Out: Store closures and cost-cutting efforts leave the tech stumbling.
Amazon Healthcare: The company faces challenges in becoming a pillar of the healthcare space.
Fulfillment by Amazon: The great ecommerce reset forces Amazon to rethink distribution.
Advertising: The retail media network pioneer maintains its dominance amid mounting competition.
Amazon Business: The leader’s growth in third-party B2B procurement is slowing.
Business Payments: Amazon is creating a more holistic offering.
Amazon Web Services: Competition threatens Amazon’s market-leading share in cloud computing.
Amazon One: The company remains a market leader in a nascent biometric payments space.
Ring Home Security: Security cameras are the focus of Amazon’s IoT strategy.
Echo and Alexa: Voice connectivity sits at a crossroads.
Kindle and Fire Tablets: OG Amazon devices retain their role as media platforms.
Fire TV: Amazon finds a hub for its media advertising flywheel.
Video: Amazon is firing on all cylinders.
Audio: Amazon is still finding its voice.
Gaming: Amazon needs to up its game to become a leader.
Media Gallery
In the two years since our inaugural “Power of Amazon” report, Amazon has maintained its status as a retail and tech powerhouse—but it hasn’t been immune to economic uncertainty, shifting consumer behaviors, or increased competition. Here we examine how Amazon’s 19 business divisions have changed (if at all), what that means for its flywheel, and how these new developments might affect your industry.
Key Question: How have the past two years of economic uncertainty impacted Amazon’s position across 19 divisions?
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KEY STAT: Amazon’s largest revenue stream—online stores—was the only division to post negative growth, while AWS saw the strongest revenue growth in fiscal 2022.
authors
Grace Broadbent, Sky Canaves, Andrew Lipsman, David Morris, Carina Perkins, Lisa Phillips, Blake Droesch, Paul Verna, Kelsey Voss, Yoram Wurmser
Contributors
- Grace Broadbent
- Analyst
- Suzy Davidkhanian
- Principal Analyst, Retail & Ecommerce
- Rajiv Leventhal
- Analyst, Digital Health
- Tiffani Montez
- Principal Analyst, Banking
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