How Amazon became successful?
Starting as a bookshop online to the journey of becoming one of the largest e-commerce platforms in the world; Amazon surely has made a mark and has become a remarkable success story that can inspire one and all. Amazon has revolutionised the way people shop, offering a vast selection of products and services, from books and electronics to groceries and streaming services. The company has also become a leader in cloud computing, artificial intelligence, and robotics contributing largely to the success story of Amazon.
Amazon's success is an attestation to the vision and aspiration of its founder, Jeff Bezos. He had a clear objective of establishing an online marketplace that would make it effortless for customers to discover and procure the products they wanted. He also wanted to build a company that would be a leader in innovation and technology.
What is the hidden meaning behind Amazon’s logo?
The first Amazon logo was designed in 1994 and was rather simple and subtle written as “Amazon.com. Earth’s biggest bookstore”, unlike the present logo which is created with a lot of thought and hidden meaning behind it.
The present logo that most of us recognize and love is the word “Amazon” with an arrow that looks like a smile. The logo designer Turner Duckworth wanted to use the smile to its optimum and suggested using the smile in all packaging, carriers, boxes, and bags leading to cost-cutting on branding and packages. This was a great move from the marketing point of view.
The color scheme of the logo- orange, and white is also chosen carefully which signifies warmth and friendliness. Apart from that, the smile is also an arrow that goes from A to Z of the word “Amazon”, which conveys the values shared by Amazon that it is an e-commerce platform with a wide range of products and the arrow also signifies perseverance and continuous growth.
Amazon Success Strategy:
Amazon has achieved momentous growth, becoming the world's largest online retailer with a market capitalization of over $1 trillion. The company has reformed the way people shop, offering a vast range of products and services, from books and electronics to groceries and streaming platforms. Amazon has also become a leader in cloud computing, artificial intelligence, and robotics, investing majorly in research and development. The success story of Amazon is a testament to the vision and ambition of its founder, Jeff Bezos.
The journey of Amazon, the brainchild of Jeff Bezos started in 1994 in Washington, United States. What started as an online bookstore quickly turned into a full-fledged e-commerce website when they received feedback from the customers suggesting they would like to receive other products such as Apparel, music CDs or DVDs, hardware tools, etc through timely delivery and affordable prices. Within a year of its incorporation in 1995, Amazon managed to create a loyal customer base, an affordable price structure, a wide range of products, on-time and efficient delivery channels, a user-friendly website, and a mobile app.
Jeff Bezos, the founder of Amazon, former president and CEO of the same, and presently executive chairman incorporates unconventional ideas and concepts and strongly believes that ideas are the foundation of continuous growth, and this philosophy of him led to several successful businesses ventures such as Kindle E-reader, Echo and Alexa that caters to people’s problems verbally.
The main focus of Amazon has always been its customer base and is less on getting better than its competitors. Hence, Amazon always worked on its strength to build its customer base, enhancing its product range, cheaper deals, efficient delivery channels, and most importantly, excellent customer support.
Apart from that, the success story of Amazon is also the result of strong and innovative marketing strategies such as free shipping, free delivery, free goodies and gift cards for festivals or holidays, etc leading to cost-effectiveness in advertisement expenses.
Amazon also keenly works on improving their website or country-wise websites to provide an excellent user-friendly experience and mobile app that makes finding their products more convenient because of the smart UX design. The user gets to see similar products, more pop-ups, hassle-free payment modes, ratings, and reviews to make their purchase seamless and smooth leading to increased sales.
The marketing team tirelessly works in providing deep and relevant information about all its products by maintaining the transparency of its consumer ratings, user reviews, and product descriptions. The marketing team is also mindful of the SEO potential of websites of Amazon. Search engines accurately display correct information and product options when you search for a particular thing on the website. With Amazon, you’ll surely get what you want.
Overall, the reason for the success story of Amazon is its innovative ideas, clear mindset, and risk-taking abilities.
Amazon Prime is an amazing service that offers so many benefits that make it a must-have for any online shopper. With it, you get access to Amazon’s vast library of TV shows and movies on Prime Video as well as ad-free music streaming on Amazon Music. You also get free two-day shipping on deliveries from its extensive selection of items, plus discounts when shopping at local stores with Amazon's now omnipresent Prime Now delivery service. Also, with each year’s membership fee, you will receive access to exclusive deals only for Prime members—including one entire month of the year dedicated to just that—as well as an ever-growing selection of free eBooks, magazines, and much more!
Amazon Pay is an easy and convenient method to pay with the payment data already stored in your Amazon account. It allows you to securely shop, transfer money, manage transactions, and access rewards—all without having to enter your credit card or bank account information every time you make a purchase. With Amazon Pay, you can easily check out merchant websites or apps that accept it without having to re-enter your personal information – perfect for those times when you don't want to give out sensitive data. It also enables merchants to quickly launch and grow their business by offering customers more payment options at the checkout.
Amazon Go is an automated convenience store in which a customer scans the QR code at the entrance of the store and shops for what they need eliminating the hassle of waiting in lines for making payments. The payment can be made conveniently through the Amazon Go app for what you shopped from the store.
At present, Amazon is a full-fledged e-commerce platform that deals in, rightfully so, A to Z items and also provides their platform for other third-party sellers to sell their products while enabling customers to find anything and everything on one platform, compare prices and avail best offers. Amazon records nearly $5,000 in sales every second. The company overall makes up to $ 18 million in sales every hour. Hence, becoming an example to other aspiring merchants both online and offline and how one can use their resources to strengthen their brand value, and market positions, increasing sales and profits.