Introduction
From mobiles, books to clothing, whatever we are using in our daily lives are coming from Amazon. This eCommerce brand became a part of our life, just like air and water. Amazon is the largest e-commerce company in the world founded by Jeff Bezos. He is the founder and CEO of Amazon with a net worth of 150 billion dollars. But many of you don’t the story behind the success of Amazon.
Amazon has built a huge base over the years, providing door to door deliveries of appliances, mobiles, clothing to the pantry. The reason for being popular is the prices are comparatively less than the original MRP. Let’s take a look at the rise of this multi-billionaire company.
The Story Behind the Success of Amazon
In 1994, Jeff Bezos along with a companion launched Amazon.com. Initially, it was planned to sell books. With slight growth, people started demanding other items as well like CDs and DVDs. This allowed Amazon to widen the network in e-commerce. Now, the categories range from books, fashion, and electrical appliances. Jeff Bezos believes that ideas keep you growing and he took many risks that turned out to be the turning point for Amazon and customers.
In 2007, he launched the Kindle against everyone’s will. It is an electronic device to read physical books. Later, it proved to be an innovative idea and a game-changer. In years, when Machine Learning started to take over technology, he released Echo and Alexa, the smart speakers with more than 30,000 skills to ease the life of people. Apart from quality products, the deals, customer services, and timely deliveries, made Amazon the largest e-commerce site in the world. As per 2017, Amazon had 5,66,400 employees that increased from 17,000 in 2007.
Ideas:
Amazon values ideas alongside customer services and equipment. Ideas drive people’s attention and interest. The e-commerce website develops strategies to implement the ideas in customers. This enables them to know the interest of customers, what they want, and the current demands. This will lead the business and money will automatically follow. Amazon studies customers through data which help them to understand the needs of customers as it played a crucial role in the success of Amazon.
Risk Taking:
Constant experiments and failure taught the company the path towards success. Jeff Bezos took many risks that later turned out to be the game-changer for the company. The best example is the Kindle, despite other disapproval, he took a bold step and launched Kindle, which is now a most used eBook service.
Now, Amazon has numerous services from Amazon Go: the world’s most advanced shopping technology, Amazon Prime: an online video and music streaming platform along with exclusive deals and discounts, and Amazon Pay: the virtual payment which allows you to go cashless.
Final Thoughts
With a clear mindset and a goal, one can achieve whatever they want despite failures. The e-commerce website has improved over the years, right from its product quality to customer services. There are many other e-commerce companies but what makes Amazon is a transparent relationship with the customers.
