Even before the pandemic, stores were closing at a phenomenal rate, with analysts predicting a coming “ retail apocalypse.” Amazon benefited enormously last year as much of the U.S.
Amazon even has a cashier-less “Go” store in Seattle.Īmazon has also been a factor in the rising closures of brick-and-mortar stores that can’t keep pace with the changes in retail. Shoppers can also search for and order items through a simple voice command to an Echo or by clicking an Instagram or Pinterest image. The company made shopping more convenient through features like one-click ordering personalized recommendations package pickup at Amazon hubs and lockers ordering products with the single touch of a Dash button and in-home delivery with Amazon Key. An estimated 142 million shoppers in the U.S. Today, stores try to reach out to shoppers anywhere, anytime and through multiple channels and devices.Īfter first experiencing two-day free shipping from Amazon’s Prime membership program, shoppers started expecting no less from every online retailer. Shopping used to be hard work – wandering down multiple aisles in search of a desired item, dealing with crying and nagging kids, and waiting in long checkout lines. Redefining RetailĪmazon – named after the world’s largest river – continually took shopping convenience to newer levels.īefore Amazon’s founding on July 5, 1994, shoppers had to travel to stores to discover and buy things. company – behind Apple and Microsoft – with a market capitalization of around US$1.7 trillion, greater than the gross domestic product of all but a dozen or so countries. Today, Amazon is the third-most valuable U.S. Within weeks, the bell was ringing so frequently employees had to turn it off.īut Bezos – who will remain at the company – set his sights on making it an “everything store.” After achieving dominance in retail, the company would go on to become a sprawling and powerful global conglomerate in numerous lines of business. Amazon announced Jeff Bezos is stepping down as CEO almost 27 years after he founded the company to sell books to customers over dial-up modems.Īmazon wasn’t the first bookstore to sell online, but it wanted to be “ Earth’s biggest.” When it first launched, a bell would ring in the company’s Seattle headquarters every time an order was placed.
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