Why did selling expenses decrease in late 2024 despite revenue growth?

The decrease in selling expenses in late 2024 can be attributed to **Efficient Operations and Scale Benefits**. 1. **Efficient Operations**: Companies have been improving their operational efficiencies, which allows them to reduce selling expenses while maintaining revenue growth. For instance, Amazon's AWS has seen increased demand due to artificial intelligence activity, leading to better cost management despite revenue growth. 2. **Scale Benefits**: As companies grow, they often experience scale benefits, where fixed costs are spread over a larger customer base, leading to lower selling expenses per unit. This is particularly evident in Amazon's cloud business, AWS, which has seen significant revenue growth without a proportional increase in selling expenses. In summary, the decrease in selling expenses in late 2024 is a result of efficient operations and scale benefits that companies have been able to achieve as they have grown and matured.