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 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