The success story revolves around Amazon becoming the largest leader in the e-commerce world, from books to cosmetics, electronics, and food to clothing and sporting goods.
With going online since 1995, Amazon has provided customers with more than just punctual deliveries. Over time, the company has managed to gain the trust of many customers worldwide. It has brought innovative features to its website and mobile application through better products and lower prices than other e-commerce platforms.
The beginning of Amazon’s success
Jeff Bezos founded the company in 1994 as an online bookstore. Based on his research, Bezos concluded that the most suitable products for online sales are books. With no intention of selling anything other than books, Amazon later began receiving emails expressing its desire to purchase music CDs or movie discs in addition to the store’s books. All of these suggestions have made Amazon a true giant in today’s e-commerce.
In 2000, AMZN introduced the option to allow small businesses and individuals to sell their products through its platform. This growing business led to Amazon’s acquisition of Kiva Systems in 2012 for $ 775 million, a robotics company whose machines automate inventory management tasks.
In 2009, the company introduced its first publishing line, AmazonEncore, dedicated to popular self-published books. It also allows people to publish their e-books.
Earlier this year, AMZN announced its results for the fiscal year 2020. Amazon’s revenue exceeded analysts’ expectations, and profits vastly exceeded.
How did Amazon succeed?
Amazon has provided customers with services that perfectly meet their wants and needs. Being an excellent user experience, the interface design helps the customer find the products they are looking for quickly.
Since it focuses on customer requirements and perspectives rather than on a strategy designed to outperform competitors, the Amazon success story is primarily driven by ideas and innovation. Jeff Bezos warmly welcomes all unconventional ideas and concepts and then associates them with new technologies.
Last but not least, Amazon focuses on satisfying millions of customers with free and punctual deliveries, low prices, a wide range of products, and of course, excellent customer support services.
At the start of February, Amazon CEO Jeff Bezos announced that he intended to leave his post later this year. The new CEO will be up to the company’s current chief cloud executive, Andy Gacy.