Why do companies strive to be so successful and driven like Amazon?
Amazon has been around for many years and of course and is the world’s most popular e-commerce site, cloud computing, A.I. services, and streaming. Products of Amazon ranged from Echo, Web Services, Alexa, Appstore, Kindle; the idea is received here. There is no doubt that success has been there from Amazon, but how the hell did Amazon become the attraction of the internet.
History:
Amazon was launched on July 16, 1995 and was named after the South American river. The company was launched by Jeff Bezos and was named to be what we know as Amazon.com.Before coming to Amazon, he did have a successful career in finance being a Princeton grad. However, he saw an opportunity and has always seemed to be very innovative from a young age. With that being said, he went on to test the growing market of E-commence. The company was private during the launch but had many associates to test out his product with more than 300 friends testing the site undeveloped.
Success took off faster than had taken off faster than anticipated and sales in the globe were high in 30 days without any promotion or press. The company because of this two years later, went on to go public in 1997 but some questions need to be answered. There was a time that people thought Amazon could be completive with other E-Commence sites. Right into 1999, Amazon officially became the must-go-to online shopping experience. Sales of products ranged with clothing lines, electronics, toys, and videos in the year before 1998. That created even more partnerships through retail and more businesses across the world.
Products:
As discussed, this is an e-commerce website and sales retail products with partnerships. Sales would skyrocket from 1995 of $510,000 to $17 billion in 2011. Bezos and company did not stop expanding from going from just a books store to a retail store of standard products to their own. Here are well-known services and products today:
· Amazon Prime (2007)
· Amazon Instant Video and Studios (2006)
· Kindle Fire (2011)
· Kindle E-Reader (2007)
All of the products above have been popular and used for many years. Prime is known for giving benefits to customers that include video and music. The fire is the iPad tablet that has given Apple the run for many years not expected at all. It’s very convent for many users to read books and other sources of entertainment. In addition, there is AWS, which is the cloud computing site that offers versatility for users. That’s anything from databases, storage, analytics, and management tools. The fire-stick and echo have been a staple for the blueprint to the takeover on the internet. With the stick offering customers instant entertainment with a USB plug to a flatscreen and the echo being A.I. intelligence for homes.
In summary, Amazon is the best technology company in the world and has come a long way from selling books. There is no telling to how many products and services in the future.
Take a look at how the sales racked up and streaming back in 2018 in the infographic below:
There was a failure, crazy right:
At a time, there was a time when there was an inadvisable phone device called the Fire Phone. The problem was the expectations were low and were seen to fail from its launch. Competitors of Android and Apple users did not help the case. This was the time where Amazon thought they could challenge the companies in the smartphone businesses, especially without a real strategy in the first place. That is sort of disbelief of Amazon failing even with the rapid success of Amazon’s Kindle tablet.
The problem Bezos and Amazon had was not the idea was not of Amazon getting into the smartphone business, but the product had no creativity. The prices were bad and the design, two things that attract customers, not insight. The phones would just sit in the warehouses and equate to no sales at all. It also was just seen as another option users could buy nothing else or more. After realizing that the phones would not sell or any thought so so in the future, Amazon would throw in the towel and shake it off.
So yeah, Amazon has had losses, like Microsoft or Apple, all companies have issues. This was. Nothing to Bezos, he the richest man in the world.
Sales:
Let’s take a look back into 2005, the revenue in millions was found to be about $8,490 and up to date at $386,064. Amazon has made nothing but bacon in those 15 years and continues to with the great convenience offered.
Amazon has also been the most searched company in that same amount of time. Taking over the internet with customers looking to shop; just take a look:
Sales are the many drives for a company it’s what they hope to do every day and being better than other companies around. The expansive motive to create the next thing for the customer. Here are also the annual revenues in three years:
· Amazon’s annual revenue for 2018 was $232.887B, a 30.93% increase from 2017.
· Amazon’s annual revenue for 2019 was $280.522B, a 20.45% increase from 2018.
· Amazon’s annual revenue for 2020 was $386.064B, a 37.62% increase from 2019.
Pandemic and Amazon future:
The pandemic had great numbers in terms of sales almost hoping up 200% since the pandemic. Even gave increase to Bezos bank account and set him up for life. In March he worth $113 billion but increased to $203 billion in November. The Quarter 4 numbers led to him getting an early retirement as CEO and will be giving his leadership over to trusted partner Andy Jassy.
This makes sense because Bezos already has other companies like Whole Foods and Washington Post and he’s 56 years old with nothing else to prove at Amazon.
This is Why Amazon is Amazon:
Amazon has struck seven key factors they have been innovation, great customer service, execution, diversification, outstanding user experiences, merging design with content a winning mindset. Those are the values that they look to follow and continue to do today. It’s probably why eBay could never get a chance to pass them one day or any other popular technology-based website at that.
