How to lose your Amazon gift card?
Amazon gift cards, which have been widely used by shoppers, have recently lost a number of their value as investors worry that a weakening economy will drive up their value.
Amazon, the world’s largest retailer, has been hit hard by a weak dollar and a weakening Chinese economy.
Amazon also has been losing money on its books and movies as shoppers shift to digital consumption, and is expected to lose about $1 billion in the first half of next year, according to analysts.
A spokeswoman for Amazon said the company is “aware of the concerns raised about its Amazon Gift Card and would like to provide a brief update on our business and the impact of the weak dollar.”
Amazon has had trouble selling the card since late January, according a report from Bloomberg.
“Amazon will continue to be cautious and make adjustments as needed,” she said.
The loss of a gift card would be the latest setback for the company, which has been trying to compete with rivals including Walmart, Costco and Best Buy.
Amazon has been working to sell its digital and physical products in more places in the past few years as it has scaled back its operations in areas such as grocery and electronics.
Its online shopping site is also experiencing issues with a backlog of orders.
The company is working to ease the backlog by lowering prices and adding discounts to its stores, according the Bloomberg report.