AMZN “The Everything Store
Somehow, Amazon.com lived up to the hype. Far from crashing and burning like Pets.com and other casualties of the dot-com bubble, Amazon thrived, passing $100 billion in revenue in 2015. Today, it’s truly “the everything store,” and despite its size, the company keeps growing like a weed.
Amazon’s growth levers are astounding: It boasts more than 150 million Prime members worldwide. Amazon Web Services is the top cloud computing platform and Alexa-enabled devices now reach tens of millions of households. The acquisition of Whole Foods also gives Amazon a brick-and-mortar presence – and a real-world laboratory. It’s no mystery why AMZN is one of the world’s 10 most valuable tech companies – and AMZN won’t stop there, with investments in drone delivery technology and plans for more than 1,000 suburban delivery hubs.
The Story Of Amazon
Amazon started as an ecommerce store selling books in the mid-’90s. Nowadays, it is the biggest retailer globally, surpassing Walmart. It’s also the world’s largest internet company by revenue. The multinational company has gone beyond the ecommerce industry, and it now focuses on artificial intelligence and cloud computing as well. It’s clear that no market is safe from the ever-expanding empire of AMZN.
In terms of revenue, Amazon is the biggest internet-based company in the world. When it started out selling books online in 1994, Jeff Bezos had an idea that the best way to succeed online was to grow big and fast.
Today, the company sells everything from books to groceries to shipping container houses. It has become a one-stop-shop and has many ambitions for its future.
Amazon.com sells lots and lots of stuff. The direct Amazon-to-buyer sales approach is really no different from what happens at most other large, online retailers except for its range of products. You can find beauty supplies, clothing, jewelry, gourmet food, sporting goods, pet supplies, books, CDs, DVDs, computers, furniture, toys, garden supplies, bedding and almost anything else you might want to buy. Besides its tremendous product range, Amazon makes every possible attempt to customize the buyer experience.
The Driving Factors of Amazon’s Success
Amazon Services is building complete e-commerce solutions for companies that are potential Amazon competitors, leaving open the possibility that Amazon will ultimately head in the direction of technology service over retail sales.
In July 2020, Amazon reported a 43.4% increase in North American sales and 33.5% worldwide revenue growth in the second quarter of 2020. Online sales of groceries have tripled as consumers went online in large numbers to buy food during the coronavirus pandemic, and Amazon increased its grocery delivery capacity by 160%.
Amazon is now looking to make its delivery service more environmentally friendly. In 2019, AMZN released its Climate Pledge, which is a commitment to be net zero carbon across the board by 2040 – 10 years ahead of the Paris Agreement.
AMZN has also ordered 100,000 electric vans from start up Rivian in a $5 billion (£4bn) move to neutralize its carbon emissions, while adding in state-of-the-art features such as an advanced driver-assist system and sensing equipment. The first of the eco-friendly vans was revealed earlier this month, with 10,000 scheduled to be in operation by 2022, and all 100,000 on the road by 2030.