Tuesday Nov 29, 2022

Transcript: Amazon’s Dave Clark on “Face the Nation,” November 28, 2021 – CBS News

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The following is a transcript of an interview with Amazon CEO, Worldwide Consumer, Dave Clark that aired Sunday, November 28, 2021, on “Face the Nation.”


MARGARET BRENNAN: Welcome back to FACE THE NATION, the American consumer is the engine of the U.S. economy and we’re now officially in peak holiday shopping. We are joined now by Dave Clark. He’s the CEO of Amazon’s Worldwide Consumer Business. Mr. Clark, good morning to you. 

AMAZON WORLDWIDE CONSUMER CEO DAVE CLARK: Good morning.

MARGARET BRENNAN: From where you sit, what can you tell us? Is price inflation eating into holiday spending? What do you expect this season?

CLARK: Well, we’re right in the middle of what we call “Turkey 5,” which is between Thanksgiving and Cyber Monday, and we’re off to a great start. We had a record-breaking Black Friday and we’re seeing customers engaged. You know, it was really interesting to see how customers are spending in this first post-vaccine holiday as we start to come back together. And as you might expect, consumers are spending on things like apparel. We’re seeing a lot of upticks in denim and dresses. We’re seeing a lot of things like home decor, particularly in our holiday- holiday decor, which is showing that I think families and friends are preparing to come back together as they just did at Thanksgiving and plan to do in the Christmas holidays. We continue to see spending on things like toys. Lots of kids are going to have a good visit from Santa this holiday season, I suspect as we continue to support there. And a little bit of downturn in electronics, as- you know, people have spent so much during COVID supporting their Home Office and various electronics spend. But off to a very good start, I don’t see inflation particularly impacting consumers this holiday season so far, and we’re very optimistic about what’s to come.

MARGARET BRENNAN: Not impacting consumers, let me ask you about the pandemic then. The White House has blamed the Delta variant for adding to shipping delays given this developing news about a new variant that’s circulating. I’m wondering what you think the impact on business might be here.

CLARK: Well, I think as we’ve heard throughout the morning, it’s very early in the process of understanding what’s happening with the new variant, and I, for one, am incredibly optimistic around what the scientists in these companies that have supported us with these miraculous vaccines are going to do. And I think consumers are going to wait and see in terms of what happens with that but are going to move on with their lives into this holiday season. And I think we’re going to continue to see- people- people are definitely going towards deals and considered spend is what they evaluate for this holiday in particular as they come back together with their family and friends. You know, people want to have a very thoughtful holiday season and want to, you know, prepare themselves to go back out into the world, if you will, and that’s what we’re seeing in their spending. But we are optimistic about what’s ahead and what’s ahead in 2022.

MARGARET BRENNAN: You said miraculous vaccines, are you going to change your company’s policy and require vaccination of employees?

CLARK: Well, we’re in a- we’ve been in a really good position throughout the pandemic where we’ve been able to- we’ve spent hundreds of millions of dollars investing in laboratory equipment to …….

Source: https://www.cbsnews.com/news/transcript-amazons-dave-clark-on-face-the-nation-november-28-2021/

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