Amazon is growing expeditiously because of the word convenience.
As Amazon increases its capability to deliver products faster, their services are becoming irresistible. With a captive audience in goods and services, video streaming, cloud services, and advertising – the company is now valued at over $1 trillion dollars.
Amazon’s marketplace for third-party sellers, their focus on high-quality every-day private labels, and the thousands of products that they offer make Amazon a retail paradise. Search anything on the web and within minutes chances are you will see the same product advertised on a banner ad of a news website – signifying the power of search and targeting advertising.
While some politicians are questioning whether tech giants such as Amazon are too powerful with too much marketshare (a.k.a monopoly), others are nervous about disrupting the voting public’s addiction to Amazon’s conveniences.
Also, Amazon’s US workforce has recently grown over 500,000 employees, up 43% from the year before and triple what it was 5 years ago. That is a lot of jobs with each staff member holding one vote in the upcoming elections.
As they are about to enter the grocery wars with an additional store format to Whole Foods (they acquired Whole Foods in 2018), their new grocery store model is evolving making these new location a depot for picking up non-grocery items, and returning items.
Bezos is famous for claiming every new day is day one. Instilling a competitive and innovative culture throughout the company, he has had no fear in starting and abandoning new retailing concepts. His current Amazon Go convenience offer with technology that eliminates the need for cashiers is the hallmark for offering quick and easy convenience.