World’s third most valuable company Amazon Inc. is growing rapidly. It is happening because the company is not only focusing on e-commerce sector but also focusing on many other sectors.
In this article, I will share the truth for faster growth of Amazon.
Amazon is growing super fast for the last 2-3 years. The main reason behind the success is moving to the different sectors. Besides, the company is spending the highest amount of money in research and development as compared to other tech giants. By doing all these things, Amazon stock price also started growing fast.
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Being the largest shareholder and CEO of the company Jeff Bezos is now world’s richest man with more than $100 billion net worth.
Here the reasons for the speedy progress of Amazon.
1. Whole Foods Market
Amazon wanted to enter into the organic food industry that’s why they made a big decision two merger Whole Foods Market with Amazon Inc.
Whole Foods Market Inc. has more than 450 stores in the United States and the United Kingdom.
2. Amazon Prime
For the purpose of faster delivery of goods, Amazon launched Amazon Prime service. It became highly successful because of appreciation of consumers.
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3. Amazon Prime Videos
As I have discussed above, the company wants to enter in many other sectors. That’s why they attached Prime Videos for Amazon Prime users.
Amazon prime videos service is becoming super popular because it’s all about entertainment and media. Today, It is the biggest competitor of Netflix.
4. Amazon Web services
AWS(Amazon web service) is also becoming popular in web and application developers. Basically, it is cloud computing web service that’s why it is faster than web services.
AWS is also offering one year free to use and check services.
5. Amazon Echo
Amazon Echo is also getting popularity. The progress of Amazon Echo is slower in Asian countries and very fast in western countries.
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India has a huge market for most of the western companies. Amazon is giving more discount compare to Flipkart because Amazon can easily maintain the loses because the company is spread in many countries and the company has many sources for generating profit.
In the early days of launching Amazon prime in India, the price of one-year membership was only 499₹. Now the price of a one-year membership is 999₹. It is the cheapest rate of Amazon prime in the world. It also includes Amazon prime videos and amazon prime music.
In the united states, the current price of Amazon Prime is 99$ which means around 6534 Indian rupees.
If you do build a great experience, customers tell each other about that. Word of mouth is very powerful. – Jeff Bezos
Thank You 🙂