Journey of Amazon: A bookselling platform to the world’s largest e-commerce platform - MENA startups, innovation, and tech news


Journey of Amazon: A bookselling platform to the world’s largest e-commerce platform

Journey of Amazon: A bookselling platform to the world’s largest e-commerce platform

When I was a youngster, shopping meant going from one shop to another trying a variety of things before eventually choosing anything. At that time, if anyone had told me that in a few decades I would have been able to explore millions of things without leaving the comfort of my room, I would have laughed at them and called them insane. The globe didn’t know any other way before online shopping sprang upon us. We had no notion of improving and optimizing the fundamental shopping act immensely. But then corporations like Amazon suddenly appeared on the horizon and stormed the world.

Amazon is currently one of the world’s largest corporations that deals in e-commerce. I am confident that every one of you must have heard about it or maybe utilised a zillion of its interfaces. It was launched in India in 2012. Amazon was not India’s first largest online vendor. The corporation has only gone in one direction since it was founded & that is ‘straight up.’ After a sluggish start in India, Amazon has accelerated its growth to overtake local competitors Flipkart and Snapdeal in the battle to the top of the world’s final major e-commerce market.

Let’s look at the rapid ascent of Amazon from the beginning

Jeff Bezos, the founder of Amazon, had to deal with the same problem that traditional booksellers had. A few thousand clients may have browsed through one of his early ideas. He realised that if the internet could be utilised to sell books, all costs associated with physical storage and display could be eliminated. He realised that an online bookshop if it existed, would be unrestrained by the constraints imposed by a virtual stock of a million volumes, and all without taking out a lease or purchasing physical stock of books.

I mean we have been accustomed to orders all off the Internet for millennia and never to leave our rooms. But can you fathom someone’s insight about 30 years ago that way? The online bookstore “Cadabra” was launched by Jeff Bezos in 1994. His parents had been the company’s founding investors. The corporate name was soon changed to Amazon shortly afterward.

The first sale of Amazon took place in 1995. The firm has since grown by leaps and bounds and generated approximately $16 million in yearly sales by 1996. Amazon was published in 1997 and started to transact $18 per share under NASDAQ. In the same year, yearly revenues increased by about $148 million and by almost nine times in the last year.

Amazon grabbed a gateway in 2000 and started the Amazon Marketplace. They started enabling others to offer their products on the website of the firm. In other words, they went from a library to an online market. This has made the firm an online bookshop.

Amazon had a Free Super Saver Shipping function implemented in 2002. As the name implies, it allowed users to freely ship beyond a specific threshold while buying. The barrier used to be $100 before. Amazon reduced the restriction to $25 in January 2002. This was Jeff Bezos’ brilliance. His talent was so straightforward, nearly apparent. Amazon has increased its annual income by roughly $4 billion thanks to this free shipping function.

I’m sure you know where the plot is heading at this stage.

Amazon early acquired Brobdingnagian dimensions, and it merely grew larger and better. It nearly was like a steroid giant.

Amazon Prime was introduced in 2005, providing two days of free shipments in exchange for an annual charge to name some of the most important milestones for the corporation. Today, Amazon Prime has about one hundred million subscribers worldwide.

Amazon launched Kindle e-book reader in 2007. Amazon controlled close to 80% of all e-book sales worldwide with this intelligent move. By 2007, annual sales were around 15 billion dollars. Amazon, fellows is the main illustration of how a company may become enormous and diverse if its growth is skillfully carried out. As an online bookshop, Amazon started, It was transformed into an online marketplace. But there wasn’t where it stopped.
In 2010 Amazon Studios was founded, including input and recommendations by crowds, for films and shows. This launch resulted in over $34 billion in yearly sales.

In 2017, Amazon purchased the retail company, Whole Foods, for an amount of $13.4 trillion following this exponential development path. Annual revenues for this year were over $178 billion. It’s not a fortunate story, it’s a story of glory. It is a point of what the human intellect can do. It is quite astonishing to think of the very power of an idea and what it could achieve.

Nowadays, Amazon, along with Apple, Google, and Facebook, is recognised as one of the four technological horsemen. It is the world’s largest e-commerce platform and the largest sales online enterprise. Amazon was $740 billion worth of the market in 2018.
It exists in 15 nations worldwide and reaches over half of the world’s population.
The reality that Amazon and Jeff Bezos have a moment cannot be denied.

King Of Cyber — Commerce
It’s difficult to pin down the specific reason for a company’s success. Companies’ success is frequently due to a mixture of sound managerial decisions, strategic planning, and expansion. Amazon’s success is due to a variety of things as well.

The genius of its inventor, Jeff Bezos, is of course, at the top of the list. This gentleman, also known as the “king of cyber-commerce,” has been so successful in spreading out and expanding Amazon that when the firm announces its foray into a new field, the stock price reacts. For a little moment, Jeff Bezos was the wealthiest man on the planet.

Amazon’s driving philosophies: the customer-centric “heads down” approach. The organization has long prided itself on providing world-class customer service and following through on its promises. In truth, Amazon’s Customer Support staff is one of the finest in its field, having earned several honors for its service to the 304 million daily visitors that visit the company’s websites. The company’s beautifully implemented diversification initiatives are the third factor. It all started as a modest bookshop. And now it is touching the sky.

Amazon now sells almost anything or EVERYTHING.

Expansion is, of course, the best course of action for every successful business. Expanding into new markets and product categories has resulted in unprecedented growth for the firm. However, the expansion also carries with it a plethora of potential for mayhem, turmoil, and catastrophic tragedy.
But not for Amazon. This business has effectively merged into a wide range of product categories and marketplaces.

Do you know how people advise you to pursue your dreams?

Let the tale of Amazon and Jeff Bezos convince you if you ever needed another reason to ignore common opinion and pursue your aspirations. Let this story serve as proof that everything is possible if you put your mind to it. Despite all odds, this modest bookshop has grown into one of the world’s technologies behemoths. Speculation can only go with us so far in determining whether or not this strong growth trajectory will continue. So keep dreaming and believing.

After nearly 30 years as CEO of Amazon, Jeff Bezos announced his departure on February 2, 2021.

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