Even as inflation bites, consumers are still turning to Amazon

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An Amazon Prime truck is pictured as it crosses the George Washington Bridge on Interstate Route 95 during Amazon’s two-day “Prime Early Access Sale” shopping event for Amazon members in New York, on October 11, 2022.

Mike Segar | Reuters

A series of new data this week showed that consumers are feeling the effects of high inflation. While that likely means more pain for retail stocks, new Wall Street research suggests clubs are holding Amazon (AMZN) is consumers’ favorite online shopping platform, bolstering the Club’s long-term confidence in the e-commerce giant.

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