For a company that started out of a garage selling books, Amazon is now a monster of a business. The e-commerce giant has turned into a company that sells everything from ‘A to Z’. In 2016, they totaled $136 billion in sales. Recently the acquired Whole Foods in a multi-billion-dollar deal. Bezos always mentioned that they ‘could sell anything, with a capital A’. Here are three reasons why the rise of Amazon is commendable.
The Everything Shop
Amazon’s primary business- e-commerce, established it as everything store. The company truly went for selling everything and anything. Today, you can buy anything from Amazon, from home appliances to sex toys. The company has millions of products listed in its humongous directory. The company made it big by selling electronics and home décor, driving many brick and mortar stores out of business.
Amazon could also be credited with creating price-shop trend among consumers. They gave customers a new possibility to manage prices they wanted to pay for products. Consequently, the brick and mortar stores became merely showrooms for products that people would buy on Amazon. With the acquisition of Whole Foods, Amazon will now make its grocery sector presence felt on a much wider scale.
Giant Leap into Technology
Amazon’s giant leap into technology began with Kindle e-readers. The insanely popular reading device made reading books popular once again. It gave a chance to many readers and independent publishers to make a living and get famous as well. The Fire phone helped pave a way for the company to take its technology dreams seriously, even though it flopped.
However, Amazon’s biggest bet into technology came with Amazon Web Services. AWS has become synonymous with cloud computing, rivaling the likes of Microsoft and Google to create a stable niche and a loyal fan following. It current holds 45 percent share of the cloud infrastructure market, a feat it achieved within merely a decade of launching.
Amazon Offers Entertainment Galore!
Amazon is now venturing into entertainment with Prime. It is converting Amazon’s customers into Prime subscribers, giving them options to get movies and digital content at the click of a button. The free or discounted content has brought Amazon into the entertainment industry with a bang.
Why is Amazon the company it is today? It has successfully identified business ventures and added a host of products and services to its offering. Amazon has managed to stay relevant with changing trends. It is aggressively foraying into different ventures and experimenting with technology to create a substantial imprint that no company has ever made in history.