Online shopping has become a part of daily life for most of us today. A recent survey in 2022 reveals that over 2.14 billion people worldwide shops online, which makes 27.6% of the people out of 7.74 billion people in the world. Thus, it can be concluded that more than one out of four people shops online now.
While the number of e-commerce companies worldwide is growing fast, there are a few pioneer companies that have established themselves as the market leader in the sector, and one of them is Amazon.
Amazon.com, Inc was launched in 1994 by Jeff Bezos in the United States. Later, it stepped into other countries to increase its market. Amazon India was started in June 2013, and sooner it became one of the biggest eCommerce platforms in India. Initially, the company started by selling books and it expanded to sell electronics, households, software, food, jewellery, and a lot more.
Currently, other than being an e-commerce company, Amazon has diversified into a number of domains including cloud computing, Publishing, on-demand music, video streaming, AI, consumer electronics, etc and the company is constantly on the lookout to enter new segments.
Amazon Studios, Amazon Publishing, Amazon Music, and Amazon Web Services are some of its other subsidiaries. In its bid to grow, Amazon has acquired over 100 companies to date.Apart from being the biggest E-Commerce platform, Amazon also offers some pretty exciting and good services and they are:
Amazon Web Services (AWS)
AWS is the web services platform of Amazon, which offers IT infrastructure services to businesses in the form of web services, which is commonly referred to as cloud computing. AWS was launched in 2006, and on March 2, 2021, it was selected by PGA TOUR as its official cloud provider.
Amazon Go is a chain of convenience stores that is run under Amazon which was started in the year 2018. The stores are mainly present in the United States and the United Kingdom, the main concept of these stores is that there are no cashiers in the store with whom customers have to deal. Everything is automated there and they have self-checkout stations where customers can pay for their supplies after picking them up from the store. As of now, there are 42+ Amazon Go stores.
This is the OTT video streaming platform offered by Amazon, it is a subscription-based platform where movies, television series, web series, and other video content are provided for the audience to watch. Amazon Prime was launched worldwide in 2016, however, some countries were excluded then, like North Korea, Mainland China, Syria, Cuba, and Iran. Amazon Prime Video made history as the first streaming service to secure an Exclusive National Broadcast Package from the NFL on March 18, 2021.
This is the online payment processing service provided by Amazon. It was launched in the year 2007. Through this payment service, one can pay from their Amazon account, for goods and services. The payment service is supported by fraud protection technology through which you can complete any transaction securely. Amazon Pay launched Smart Stores on June 26, 2020. The Smart Stores of Amazon Pay is an India-specific programme that would enable the physical stores to serve the customers with a wide range of products that they can easily avail of and pay for just by scanning the QR codes.Smart Stores is also coming up with a feature in which a digital store will be available for the customers in which customers can go through the products that the shop is having, can read and update the reviews of the product, and avail many offers which can provide them benefits, and a new type of shopping experience. Many shops have signed up for Amazon Pay Smart Stores and came forward as they have found a new hope to bring their business back on track. Big brands such as Big Bazaar and MedPlus have come forward and have taken a part in this new initiative.Smart Commerce Initiative
Amazon has announced its Smart Commerce initiative in India, as far as May 18, 2022 reports go. With this initiative, Amazon India has plans to transform the local stores into "Digital Dukaans". Amazon announced during the 3rd edition of Amazon Smbhav that the company will be fuelling its plans to digitise 1 crore small businesses by 2025 via the launch of its Smart Commerce.
Amazon - Founder & Team
Jeff Bezos (Founder & Former CEO, Amazon)
Amazon was founded by Jeff Bezos (Jeffrey Preston Bezos) in 1994. He is an American entrepreneur and industrialist. After graduating from Princeton University with a degree in electrical engineering and computer science in 1986, Bezos worked for 'Fitel' ( a fintech telecommunication startup), where he was working on building a network for international trade. Later Bezos was promoted to head of development and director of customer service at 'Fitel'.Jeff Bezos stepped down as CEO of Amazon and will be the executive chairman of Amazon. Andy Jassy -The Cloud Computing Chief has been appointed as the new CEO of Amazon.
Andy Jassy (Cloud Computing Chief & CEO of Amazon)
Jassy joined Amazon in 1997. He has an MBA from Harvard Business School. It was Andy Jassy who founded Amazon Web Services (AWS), a cloud platform with millions of users. Andy Jassy's promotion from being a Cloud Computing Chief to the CEO (Chief Executive Officer) of Amazon is remarkable and highlights the importance of web services to Amazon's future. Andy Jassy has taken over the position of Amazon CEO.
How is Amazon successful?
Amazon has provided its customers with such services that people are attracted to buy from Amazon. It has mitigated the advertisement expenditure by providing customers with free shipping. And no e-commerce website development company could compete with that today.
An excellent user experience/ user interface design makes the customer find what they need more conveniently. Because of a smart UX design, more options pop up before the check out in the Amazon mobile app or website. Those options include Similar products, products with more ratings, products bought together. These options increase the sales. A hassle-free payment model in the e-commerce application development makes the customer come back to it again.Amazon provides a long description of the products ranging from where it is manufactured, which company sells it, what the ratings and user reviews are. Whenever a customer searches for a product, the search engine displays the relevant options available on Amazon or country-wise Amazon websites. This feature attracts the potential customer. Thus, increased traffic to the website. The Amazon marketing team surely puts great emphasis on the SEO which enables the customer to directly reach the Amazon website and get what they want. 'Some shipping companies offer affordable fees, but you should make sure that you know the details, asking questions such as what is salehoo, so you're aware of their policies and conditions
Conclusion:
With a clear mindset of ‘win it’ and open arms for ideas, the E-Commerce Website Amazon finds its success in the loyal base of its customers and an intent to keep innovating and experimenting. Amazon Success Story speaks all about the E-Commerce company’s ability to maintain a relationship with its customers and launching the products suiting the people’s needs.
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