It was only when I read this fantastic article in Techcrunch, that I realised the actual “under the radar” scale of Amazon’s eccommerce business. Sure, they just sell books and CD’s right? Nope.
And that’s a $34 billion a year in revenue nope.
That’s like if one company was responsible for 15% if Ireland’s GDP. God knows we could do with it.
How have they done it? (And this is what’s really interesting to me from an online point of view.)
They taken some basic online concepts and built scale, on analytics, retention and product experience.
The global consulting company global consultincompany faberNovel has identified the keys to Amazon’s success as 1) the Internet imposes no limits on how much Amazon can sell; 2) its control of customer accounts and loyalty, and 3) and a growing ecosystem that is helping it cement its place in the world of digital goods as well.
And this is from a compnay that lost $3billion dollars betwen 1995 and 2003.
The turnaround is nothing short of an amazing model for how successful, customer focused ecommerce businesses should be turned around and run.
Their web services business alone effectively runs transactional platforms for massively scaled businesses like Zynga, Netflix, Reddit, Etsy, Dropbox and many more.
Yet many people think that they just sell books, Cd’s and DVD’s.
If you’re an internet marketer or in the ecommerce business – you could do worse than reading the great Techcruch article on them here.