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Amazon, a company that started with just selling books is now a company that owns more than half of the online retailing market on a global level and the list is long when it comes to the list of what Amazon has achieved throughout its journey till now, how Amazon provides its customers with millions of products which is a single click away and what innovations the brought in its delivering method and customer service. Amazon’s future strategy for smooth running of the business.
The e-commerce market place is something which started 2 decades ago and is now a 400+ million-dollar market. The market where sale of physical good takes place through a digital channel is the most common way people buy goods these days. Amazon is the largest online retailer on a global level with more than 300 million active customers. Amazon sells almost 12 million products ranging from clothes and tools to home and kitchen related goods.
Amazon is world’s most dominating e-commerce website which offers millions of products with different brands from A to Z. However, everything has Strength, Weakness, Threat and Opportunities (SWOT), here is Amazon’s SWOT analysis.
“Amazon is a case study in ceaseless innovation and interminable disruption,” says Artemis Berry
Amazon now with a giant 53% market share of the total e-commerce market has a long list of changes which took place for amazon and many trends that Amazon started. There was a time when Amazon was just into selling books, but it has come a long way as now not only it has set a benchmark fir offering its customers convenience which no other competitors can match. The following are the recent changes and trends that Amazon has started:
Amazon is well known for its customer relationship management. Amazon is ranked as ‘the most trusted online shopping site.’ Customers can easily search for any category of product and also, they can see highly detailed images of the products, pricing and ratings and many more. Shopping on Amazon is like one is doing shopping in a grocery store. If any customer gets wrong product, at that time Amazon protect its customers. When third party sellers make hash of orders, then they are required for refunds. And if Amazon makes any mistake by itself, they correct it immediately. Customer Relationship Management plays huge role in making Amazon the most loyal & trusted shopping site.
Inventory Management: An Inventory Management System is a sum up of hardware and software which is used to operate and maintain the goods. It also involves the finalizing the last step which is ready to be delivered to the consumers.
Amazon Warehouse ship their final goods to the wholesalers and retailers and then It goes to the consumers and customers. For Example, when one orders a pair of shoes from amazon which is officially sell by a distributer, where amazon remains a medium to meets the customer’s demand. The cost of transportations is higher because the product would be first sent to the amazon’s warehouse from distributer and then to the customer.
Overall, Amazon’s journey started from selling books to selling almost everything now, Amazon now covers all the market with a huge grip on its customers who they provide with millions of products with a wide range. Amazon now serves its customers with fast paced trackable deliveries which no other company is close to do.