Amazon has recorded its first quarterly loss since 2015.

A drop in online sales and rising costs led to online sales at the e-commerce giant slipping 3 per cent in the first three months of the year, as the Amazon boom from the pandemic starts to fade, reports the BBC.

However, growth in other parts of Amazon's business, including cloud computing and advertising, remain strong.

Overall, the company reported a loss of $3.8bn, much of which was driven by a hit from its investment in electric carmaker Rivian.

It forecast sales growth of as little as 3 per cent in the coming months - compared to the double digit growth it has enjoyed in recent years.

The BBC quoted Amazon chief executive Andy Jassy as saying: "The pandemic and subsequent war in Ukraine have brought unusual growth and challenges."

Amazon's delivery arm 'Amazon Logistics' is building a purpose-built warehouse facility on a 5.3-hectare plot of land adjacent to the Unilever factory and Premier Inn Hotel at Centre Severn in Barnwood, Gloucester. The warehouse is set to create 20 permanent jobs and 90 delivery driver jobs.

Sam Holliday, development director at the Federation of Small Business for Gloucestershire, told Punchline this morning: "There were a lot of businesses that did really well throughout the pandemic for fairly obvious reasons and Amazon and Netflix were among them, but both of them have taken big hits recently.

"So many small businesses are struggling at the moment with rising costs and supply chains and Amazon are having exactly the same problems - they're having supply chain problems, they're having transport problems. For the first time in a number of years Amazon are struggling as well.

"If Amazon are struggling and Netflix are struggling then imagine what it's like for the whole business community. It's tough out there. Your house prices may be rising but sadly everything else is too."

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