Hercules has a new name, and it’s Amazon. From selling books to turning drone delivery into reality, Amazon has done it all the Amazon way! It is omnipresent and has revolutionized the retail industry of present and the past; the future is in the making. Amazon is the undisputed leader in the competitive e-commerce space. Amazon has been providing customers with a huge selection, low prices and unparalleled convenience which make them a clear winner. Over the 22 glorious years of Amazon, it has presented the retail industry with innovations unknown and unheard.
The company is a case study in ceaseless innovation and sustained disruption over the years and the retail industry of today owes a lot to Amazon.
Let’s take a quick look through Amazon’s journey and its impact on the retail industry.
- The year was 1997, Amazon was the first to introduce the concept of 1-click shopping. It eliminated the need for shoppers to re-enter payment information every time they made a purchase. Such hassle free shopping, much wow!
- Amazon’s marketplace made it easier for smaller third-party sellers to dip a toe in e-commerce. It was a win-win situation for all. The customers got the best deals and the stores expanded their business online.
- The huge breadth of assortments, free shipping, and unconventional return policies made Amazon a champion of the masses.
- Dynamic pricing was their brainchild and a stellar contribution to the retail industry. Algorithmic pricing rules that allowed for multiple price changes intra-day and inter-day put them on the top.
- Amazon completely changed customer buying with the development and expansion of processes such as automated emails, user-generated ratings and reviews and recommendation engines. Never was the consumer data used this well in retail history.
- Customer satisfaction was taken to a whole new level with Amazon. Amazon Prime boasts of over ten million members around the globe. Amazon Prime Now is taking efficiency to a whole new level, providing same-day delivery to dozens of metropolitan areas
- Talking of Amazon prime, Amazon Prime Air is currently the talk of the town! Amazon is heavily investing in drones and the first successful testing of drone delivery has already been done!
- Amazon Go is yet another revolutionary concept coming soon at a store near you. You might have already read, seen stuff around it anyways!
- Amazon released a blockbuster button this year. They took the phrase of order in just one click to a whole new level! Say hello to the new Amazon Dash Button. Running out of detergent? Just click the dash button for tide and amazon will place an order and deliver it to your home hassle free! Taking IOT to a whole new level!
- Not to mention Amazon has heavily invested in robots. Over 30,000 robots take efficiency to a whole new level in the warehouses.
Futuristic, efficient and innovative to another level! Can’t get over the Amazon effect? Amazon offers opportunities where you can dive right in, work with smart people on challenging problems and make an impact that contributes to the lives of millions at the Amazon Retail Business Ops Challenge. Register today!