Company Overview:-
Here we will see about the Why is Amazon so successful?
Amazon is an American multinational e-commerce and cloud computing company that was founded in 1994 by Jeff Bezos with the help of his college roommate, Steve J. Bannon (1954). During the early years of Amazon, it was primarily a bookseller, and the company was known as “Earth’s Biggest Bookstore”. Amazon began with only one product – books. But today, while it is still best known for its e-book business, Amazon also sells MP3 players, tablets, smartphones, personal computers, and its line of cloud-computing services.
The company now has more than 125 million active customer accounts and sells a range of consumer goods and services, including electronics, books, CDs, DVDs, videos, toys, apparel, furniture, tools, home goods, food, and games.
Reasons behind Amazon’s success:-
- Great management:- A large part of Amazon’s success comes from the fact the company doesn’t have a set of rules or regulations when it comes to the way they operate. Their success is based on the fact that they have a very large staff of people who work very little and don’t care to be a part of the “establishment” of the company.
They do not have to follow any strict rules or have any set goals other than to sell the best product at the best price.
Flexible work hours and work environment for employees:-
One of the advantages of this structure is the ability it gives to employees to work from home and not be constrained by the strict hours of a traditional workplace. In this way, many employees can create a work schedule that fits in with their lifestyle and is more accommodating to their needs. This structure also provides employees with the flexibility to decide when and where to work on a day-to-day basis. This type of structure gives employees the option to not work at all if they do not wish to.
Free shipping and Easy returns available:-
Customers feel comfortable purchasing from Amazon because they know that they can return their purchases if they are unsatisfied with their purchase.
Loyal user base:-
Company’s success comes from its ability to build a loyal user base. The company provides a convenient, safe, and inexpensive way to purchase and ship goods. The company has taken care to offer a good user experience and a wide variety of payment options, so that customers can use the service with confidence, including a payment option for customers using a debit, credit, or prepaid card.
Customer Services:-
When people think about Amazon, they probably think about fast shipping, great selection, and great prices. But for many people, Amazon has become just as synonymous with great customer service. When you buy something on Amazon, you can feel confident that you will be taken care of if the item isn’t as described, or if there’s a problem with the order. The customer service includes everything from answering questions and resolving issues to providing product recommendations and offering refunds.
Constant Evolution:-
Since its humble beginnings as an online bookstore, Amazon has grown into a multifaceted and dynamic company. The company has evolved and adapted over the years, and it continues to do so today. Amazon has expanded its offerings far beyond online book sales, offering everything from groceries and home goods to computers and office supplies.
Amazon also offers services such as Amazon Web Services and Amazon Prime, which are game-changing innovations that are revolutionizing the world as we know it.
Good use of technology:-
Amazon’s business model is based on the idea that people will spend money on things that they like and that are convenient. To make this vision a reality, Amazon has used data to understand customers in all aspects of their lives. The company has created a new field of research, ‘data science,’ to explore this idea and make the data available to developers. It has enabled developers to create services that are personalized and adaptive to customers’ needs and preferences.
Conclusion:-
Amazon has grown from a small bookseller and warehouse in Seattle to a global company with more than 100 million customers, hundreds of millions of products, and hundreds of thousands of employees. It has achieved this success by constantly innovating and using data to improve its services and products for its customers.
The e-commerce giant is known for its low prices and an easy-to-use interface, but it has also less led other industries with the way it has revolutionized e-commerce and the way people shop. Today, Amazon’s growth and profit margin are staggering. Amazon has the fastest growing website on the Internet and a staggering user base of more than 100 million. Many of these users are loyal to Amazon and will shop there for years to come. The company even changed the way the world shops, and the way people search for products, by changing the way that they sell things to people.
