The dotcom boom in the early 2000s saw multiple businesses try to be in the forefront of what was then an uncharted territory in the internet. Some have succeeded (like Amazon), and some have failed miserably. Their ideas are not useless. Perhaps there were some lapses in planning and ideas that ultimately led to their failures. Let’s look at Amazon, one of the survivors of this transition period: Amazon is the brainchild of the world’s richest man: Jeff Bezos; and why it seems like Amazon is well on its way to world domination.
Amazon’s Three Core Ideas
In this section, we will discuss the core principles that elevate a business among its competitors. For Amazon, these are: Put the Customer First, Invent, and Be Patient. Amazon started its business by selling books online. How could a small book retailer expand into what Amazon is now?
The first core idea is, “Put the Customer First”. Every waking day, Amazon seems to try harder in understanding its customers using the data they collect. They have invested tons of money in customer service and customer experience front that people are crawling back to them.
Next is, “Invent”. Amazon doesn’t exactly know what the people want. They just use the data they have obtained to create something. No one told them to create Alexa, yet they did. On top of this, Alexa has become a great part of an American household. Amazon opened itself to a whole new realm of possibilities. Creating a game-changing product was always their goal.
The third is, “Patience”. Amazon wasn’t built in a snap of Bezos’ fingers. He met a lot of criticisms for his ideals of a digital age. He made decisions that hurt his business. Despite it all, he remained patient. Amazon has a long-term view of things. They believe that investing in experience, service, and inventions would pay dividends years after.
Amazon Today
Amazon is not slowing down. It’s preparing for something bigger in the future. Amidst the pandemic; Amazon seems to be only one of the few businesses fully functioning and serving for the needs of Americans.
Their robust Data Analytics terrifies its rivals. It enables them to expand into a new business with ease, owing to help from the data they have obtained. Most people love Amazon. They serve as the people’s choice for the price, convenience, and reliability, fundamental characteristics of businesses.
Amazon dominates a 9% share of e-commerce space in the U.S. With the purchase of Whole Foods and the launch of the cashier-less grocery, Amazon Go; Amazon is on its way to dominating more shares of the pie.
Technology has a long way to go, I believe we have only seen the tip of the iceberg and Amazon aims to be like this. Being open to technological advancements and its determination to always be at the forefront of groundbreaking technologies. Amazon is slowly but surely taking over the world.
Opinions expressed by AsianBlurb contributors are their own.
The editorial team for AsianBlurb.
