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Amazon's Ad Business Could Double by 2023

Amazon's Ad Business Could Double by 2023

Amazon's (NASDAQ: AMZN) advertising business surged in 2020 as it benefited from more shoppers buying online instead of in stores. Amazon grew its other revenue segment a whopping 77% year over year in the first quarter of 2021. Two big changes were accelerations in the shift from in-store retail to digital fulfillment and the shift from television advertising to digital advertising.