As we know, Amazon is the king of online retailing. And just recently, the firm joined Apple with a marketing capitalization of $1 trillion. In addition, founder Jeff Bezos is the world’s richest man. What would YOU do with $160 BILLION? Today, we look at Amazon’s evolution. In 1994, who would have thought that Amazon would be such a dominant firm in 2018?
Amazon’s Evolution
Consider Spencer Sopers’ report for Bloomberg:
“Amazon CEO Jeff Bezos is famously patient. Amazon uses Whole Foods as a lab to reinvent grocery shopping before expanding what works, says Neil Ackerman. He is a former Amazon executive who now works for Johnson & Johnson. ‘They will experiment and be totally misunderstood for long periods of time,’ he says. “Walmart is built to deliver pallets to 4,000 stores. And Amazon is built to deliver packages to millions of homes. Who do you want to bet on: the pallet people or the package people?’”
Amazon Prime Booming
Despite its great results, Amazon never rests on its laurels. Hence, its expanded offering of private-label goods. And its greater clothing selections. Also its increased use of same-day delivery. And more!
But, its Amazon Prime memberships form the base of its success. These eMarketer charts show why.
The Growth of Amazon Prime
Frequency of Purchases via Amazon Prime
For Amazon and many other successful business stories, there had to be an opportunity first, and then someone had to act on it. But Amazon is no ordinary successful business. They have a fierce, decisive, imaginative leader with a vision for the future like almost no one else. He saw the internet as a new industry with limitless possibilities that was seeing an annual growth rate of 2300% which is astronomical. What set him apart from other successful dot com companies, is when the bubble burst and all the dust settled, Amazon came out non only a survivor, but they were absolutely thriving. From 2011 through 2017, Amazon’s Prime membership rose from a minuscule 11% to a whopping 45%. Amazon has come out with an array of services and perks that only exclusive Prime members get and that is most likely what is driving their substantial growth.
One thought I have on this article is that I do not use Amazon, because I find no interest in it. Therefore it is hard for me to relate to people who are avid buyers.
Amazon has definitely created a world where anything you want can be delivered to your home in two days. It is mind blowing that an idea that started in a garage can alter how families shop!
Jeff Bezos believed in an idea and then work hard on that idea to make it a reality. Today, because of Amazon we are able to receive packages while sitting in our home. Not only that, Amazon knows how to make the customers come back by offering them Prime membership just for $119 a year. Through Amazon Prime, Jeff Bezos revolutionized the whole shipping process, today we can order anything on Amazon and expect it to be deliver at our doorstep in two days. Also, Jeff Bezos idea to buy companies in various industries shows how diverse Amazon is.
Where I am from people rely on Amazon for everything. It has been integrated into our everyday lives and we would be lost without it. The rapid advancements in technology have heavily promoted online shopping and detrimentally damaged retail stores. With less and less retail stores available and more and more online shopping being done, Amazon will be able to further their services even more as people continue to rely heavily on them. Jeff Bezos is such an admirable innovator because he was able to look ahead of the times and propel his business into success. The company is thriving and remains a hot topic in the business world, I cannot wait to see what Amazon comes up with next.
I heard Amazon from my classmates in my first year in U.S. My roommates bought almost everything on Amazon, like furnitures, painting tools and even head bands. I got my Amazon prime for student in my second semester and it was amazing because it offered two-day free shipping when many other online services only provided 5-7days standard free shipping. Amazon is definitely a successful business.
I am surprised at first that having a customer spend money on a service that requires them to spend more money, would work. However, I understand the connivence of having all items that a person would need in one area that ships free and is easy to use, would be appealing.
Amazon has changed the way people shop forever. People now are able to stay in the comfort of their own home and have whatever they may need brought to them by just the click of a button. The thing is, amazon offers more perks than just their incredible same day delivery. They offer a wide variety of items to choose from with competitive prices, prime video which gives prime members access to entertainment, and now even gives prime members a discount at whole foods. The best thing about Amazon is that they never stop growing. Jeff Bezos exceeds tremendously at not letting the company die and constantly making it better for his customers. His smart business moves have lead him to the top, and nothing is stopping him now.
Amazon will forever go down as the company that revolutionaized online shopping. When you think about the statistics, nearly HALF of all households in the US are subscribed. That is an ABSURD amount of reach that one compnay has over the American public. Amazon but itself up from the ground to make Jeff Bezos the richest man in America. By offering unique services such as video streaming and same day delivery that is included in the prime mebership, Amazon sets itself up to be different from competitors. They hit all the right marks: convinience, low prices, and accessibility.
Amazon is one of the most successful companies in todays society as it is a resources heavily relied on by millions. They revolutionized how online shopping works by encouraging users to become prime members and receive two day shipping, which brings in whole new opportunities for success. Amazon is a company which offers anything one may need, and the prime shipping and ease of ordering creates a site we can be fully dependent on for whatever shopping needs we think of in the moment. My family has a prime account and, as the millions of other users, use Amazon constantly whether is be buying necessities like phone adapters or searching through the obscure items for something we didn’t know we needed. Besides the dependability of offering millions of brand- names at affordable prices, the Amazon brand items, such as their phone chargers, are actually reliable and built to last. Amazon is a company with no signs of slowing down through its revolutionized impact on society, and is a company who is always thinking about future opportunities.
As an Amazon Prime user, Alexa owner, and kindle reader, I have only good things to say about Amazon. Amazon Prime is beneficial for all and is catered to all which is why the number of users and households that utilize Prime have been steadily increasing over the past several years. One aspect of Prime I really enjoy is that fact that as a student, I’m able to get all the features of Prime (two-day shipping, movies, etc.) at a lower rate. Simple factors such as this make Amazon the successful company it is today because it shows how the company cares about their users and how they try to offer the best for their customers. This is the reason why they are able to keep their current customers and continue persuade customers to use their services.
In my house, Amazon is used to find anything and everything. They have revolutionized the market with their two-day shipping and a huge selection of products. They have even gone as far as to open new parts to their company such as prime pantry which helps with food shopping, or prime wardrobe which lets you buy clothes to try on at home and only pay for the ones you like and keep. Even prime video which works just the same as Netflix but also lets you purchase and rent other videos that are not always available. Their constant expanding helps the average person live an easier day to day life. Think of it, throw it in the cart, buy it, have it two days later.
In recent years, Amazon has exploded in its popularity around the world. I personally do not use Amazon often, but for the people that do, Amazon has a large selection of products. One feature about Amazon that is really convenient is Amazon Prime. Free two day shipping is extremely convenient especially for college students who may need to order textbooks and want to receive them as fast as possible. All in all, Amazon has expanded and will continue to expand rapidly in the future.
Amazon is one of the best things to happen to the online business. All though it is dominating retail businesses, it has created thousands of jobs. I use amazon for many things. Amazon has mostly anything you need or want. They are trying to create drone deliveries, and I believe when that happens, amazons stock and value will keep on rising. Jeff Bezos is a very successful entrepreneur.
I use amazon all the time. It has been so successful because of convenience, pricing, variety, and so many more factors. As a student I use amazon even more than I used to because I can order multiple items at cheaper (or equivalent) prices than stores, pay little to no money for shipping, and get it within one or two days rather than driving around to multiple stores. It is a time and money saver and those are so valuable in everyones lives.
For me, Amazon Prime is such a convenience for me as well as my friends and family. It’s a company I have bought a wide variety of products from (from bowling balls to DVDs and more). The perks that come with Amazon Prime is just even more incentive to purchase from them more often. I order things from my phone with the app and when the package is delivered, I get a notification that the package arrived along with a picture of the package in front of my front door. I’m glad to be a loyal customer and will be for a long time.
Amazon has really grown over the last 10 years or so and has become even more of a convenience for me and my family back home. Amazon Prime has become such a life saver when i needed to get certain items to my dorm/home very quickly instead of waiting 5 days to almost a week. It’s really helpful to college students as well and Amazon took advantage of that by offering 6 months of Amazon Prime for free for college students which is very generous of the company to do. I’m pleased to be a Amazon customer and will continue to be one for as long as I can go.
Amazon is my go-to website whenever I need ANYTHING. Jeff Bazos saw the opportunity in the market for a company such as Amazon and capitalized on it ten times over. It’s been so interesting to see how the online shopping and retail landscape has morphed since Amazon’s rise in popularity. I’m intrigued to see how the retail industry and brick-and-mortar firms will adapt in order to keep up with this absolute beast of a company.