E-commerce
September 17, 2026
Wondering why Amazon recorded a net loss in the first quarter of 2022? The answer lies in one word: Rivian. The e-commerce giant suffered a $7.6 billion impairment charge on its stake in the electric vehicle manufacturer, turning a potential profit into a net loss of $3.8 billion. For an online merchant, this episode illustrates how investments outside the core business can weaken financial results, even for a major player.
But beyond the Amazon case, this news raises practical questions for your store: how do you track your financial performance, anticipate logistical cost increases, or reassure your customers when prices rise? So, why did Amazon record a net loss in Q1 2022? On the agenda:
What is Rivian's role in Amazon's net loss?
How have geographical segments evolved?
What are the consequences for FBA sellers?
How does Qstomy help track your e-commerce performance?
What checklist should you adopt to protect your store?
Let's get started.
Summary
What is Rivian's role in Amazon's net loss?
In the first quarter of 2022, Amazon announced a net loss of $3.8 billion, or $7.56 per share. This loss is primarily due to a $7.6 billion write-down on its stake in Rivian, an electric vehicle manufacturer. Without this accounting adjustment, Amazon would have posted a profit, as evidenced by its net sales rising 7% to $116.4 billion.
This situation serves as a reminder that strategic investments, even promising ones, can create volatility in results. For an e-commerce merchant, the important thing is to distinguish operational performance from variations linked to financial investments. Tracking your core metrics, such as conversion rate or average order value, remains more reliable than focusing on exceptional gains.
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How have Amazon's net sales evolved?
Despite the net loss, Amazon's net sales increased by 7% year-on-year, from $108.5 billion to $116.4 billion. This growth, while positive, marks a slowdown compared to previous quarters, a sign that the pandemic-related online shopping frenzy is fading. Consumers are gradually returning to physical stores, which is affecting e-commerce momentum.
For your store, this means it is no longer enough to rely on automatic market growth. You need to optimize every step of the customer journey, from the product page to order tracking. Tools like Qstomy can help you identify friction points and improve your conversion rates, even in a slowdown context.
What is the performance by region?
Amazon's performance varies significantly by region. In North America, net sales increased by 8% to reach $69.2 billion, but the region recorded an operating loss of $1.6 billion. Internationally, sales fell by 6% to $28.8 billion, with an operating loss of $1.3 billion, compared to a profit of $1.3 billion the previous year.
These figures show that sales growth does not guarantee profitability. Logistics costs, delivery fees, and local investments weigh heavily. For a merchant selling internationally, it is crucial to measure profitability by market, and not just revenue. A rigorous analytical approach will prevent you from spreading yourself too thin over unprofitable areas.
What is the impact of services on the results?
For the first time, services accounted for 52% of Amazon's net sales in Q1 2022. Leading the way, Amazon Web Services (AWS) saw its sales climb by 37% to $18.4 billion, with an operating margin of 35%. Subscription services, such as Amazon Prime, generated 8.4 billion, up 11%.
This shift toward services illustrates a key trend: recurring revenue is more stable than one-off product sales. For your e-commerce business, this encourages the development of subscriptions, loyalty programs, or premium after-sales services. These models smooth out seasonal fluctuations and increase customer lifetime value, a metric that Qstomy can help you track.
What is the forecast for the second quarter?
Amazon issued cautious forecasts for the second quarter of 2022, with net sales expected between 116 and 121 billion dollars. The company does not rule out another net loss, although the third quarter is expected to be better thanks to Prime Day in July. Analysts and Amazon agree on a post-pandemic slowdown in e-commerce, as consumers return to physical stores.
For merchants, these forecasts prompt caution. It is wise not to overstock, to monitor acquisition costs, and to diversify your sales channels. Anticipating slow periods and preparing targeted reactivation campaigns, for example through personalized emails, can maintain your revenue even when overall demand weakens.
What is the FBA fuel surcharge?
On April 28, 2022, Amazon imposed a 5% fuel surcharge on all FBA sellers, a first. This measure aims to offset rising transport costs, but it will weigh on sellers' margins. According to the Institute for Local Self-Reliance, the share taken by Amazon on each FBA sale rose from 19% in 2014 to 34% in 2021, and this surcharge will further worsen the situation.
If you use FBA, it is essential to reflect these costs in your prices, but with caution. A sudden increase can drive customers away. Test different price levels, communicate the added value of your product, and consider absorbing part of the cost to remain competitive. Monitoring your margins in real time, as Qstomy allows, helps you make informed decisions.
What is the impact of the Prime price increase?
Amazon has increased the price of its Prime membership: the monthly fee has gone from $12.99 to $14.99, and the annual fee from $119 to $139, representing a 17% increase. This price hike, which took place in late 2021, aims to cover growing logistics costs. However, it could slow down new member sign-ups and prompt some to cancel.
For your store, this serves as a reminder of the importance of justifying your own subscription or shipping fees. Highlight the concrete benefits: fast delivery, easy returns, exclusive offers. If you offer a loyalty program, make sure the perceived value exceeds the cost. Clear communication about the benefits builds trust and reduces the risk of churn.
What is the "Buy with Prime" program?
In April 2022, Amazon launched a beta test of "Buy with Prime", a service allowing select FBA sellers to offer Prime shipping and its benefits on their own website. Amazon plans to extend this program to sellers not using FBA, and then to those who do not sell on its platform. This initiative puts Amazon in direct competition with UPS, its biggest customer, and reduces its reliance on the USPS.
For merchants, "Buy with Prime" could simplify logistics and improve conversion, as customers recognize the reliability of Prime. However, it also strengthens reliance on Amazon. Before adopting this type of service, evaluate the costs, terms, and impact on your independence. A balanced omnichannel strategy remains recommended.
What lessons can be learned from the Rivian episode?
The Rivian episode shows that even giants can suffer significant losses due to risky investments. For an e-commerce merchant, the lesson is to diversify your revenue streams and not rely on a single channel or product. Recurring services, such as subscriptions, offer valuable stability.
It is also crucial to monitor your financial indicators: gross margin, customer acquisition cost, customer lifetime value. This data allows you to quickly adjust your strategy. Tools like Qstomy centralize this information and help you make decisions based on facts, not intuition. Financial resilience is built through daily rigor.
How to track your e-commerce performance?
Tracking your e-commerce performance is not limited to looking at revenue. You need to analyze traffic, conversion rate, average basket, return rate, and customer satisfaction. These indicators give you a complete view of your store's health. Amazon itself, despite its loss, saw its sales progress, proof that the fundamentals can remain solid.
To set up effective tracking, define clear objectives, choose the right tools, and review your data regularly. Qstomy can automate part of this tracking, alerting you to anomalies or suggesting optimization actions. A data-driven approach allows you to react quickly and maximize your profitability.
Comment Qstomy peut-il vous aider ?
Qstomy, the Shopify AI agent, helps you transform your visitors into customers and build audience loyalty. Specifically, Qstomy helps you to:
Track your packages: your customers receive automatic notifications, reducing "where is my order?" inquiries and improving satisfaction.
Manage returns: a simplified process that reassures buyers, especially for expensive products, as explained in our guide on high-value products.
Optimize the cart: personalized recommendations and cross-selling that increase the average order value.
Address objections: Qstomy handles common pre-purchase questions, as shown in our article on e-commerce objections.
Improve support: a clear support policy, as described in our guide, to retain your customers.
With Qstomy, you transform every interaction into a sales and loyalty opportunity, while reducing your workload.
What checklist should you adopt to protect your shop?
Faced with economic uncertainties, here is a checklist to strengthen your store:
Diversify your channels: do not depend on a single platform. Sell on your website, on marketplaces, and in person if possible.
Monitor your margins: track your purchasing, shipping, and marketing costs. Adjust your prices accordingly.
Build customer loyalty: offer reward programs, personalized emails, and responsive customer service.
Optimize your SEO: work on your category pages to attract qualified traffic, as shown in our SEO strategy.
Prepare your responses to objections: anticipate questions about delivery times, returns, and payment security.
In brief
Amazon's loss in Q1 2022, due to Rivian, is a reminder that investments can create volatility. For your e-commerce, focus on your fundamentals: performance tracking, customer satisfaction, and continuous optimization. Tools like Qstomy help you stay agile and profitable.
FAQ
Why did Amazon lose money in Q1 2022? Because of a $7.6 billion write-down on its investment in Rivian.
Did Amazon's sales increase? Yes, by 7% to $116.4 billion, but the net loss masked this growth.
How can I avoid this kind of loss? By diversifying your investments and closely monitoring your performance indicators.
To go further: Questions before purchasing in e-commerce: the 30 objections to address on your site - Qstomy, Does Texas collect sales tax on online purchases? - Qstomy, E-commerce support policy: writing clear rules for customers and agents - Qstomy, E-commerce SEO strategy for category pages - Qstomy, E-commerce first response time: what impact on conversion and loyalty? - Qstomy, How to reassure buyers before and after purchasing expensive products? - Qstomy, How to increase sales of an e-commerce store? - Qstomy.
Enzo
September 17, 2026
