When Amazon launched, it was simply a place to buy books in a convenient and cost-efficient way, though eventually transforming the publishing industry. They soon diversified into music, movies and even groceries (Amazon Fresh) – offering the same user experience. The game changed slightly with their own physical product Kindle and even more so when they diversified into hi-tech categories like cloud computing. In 2014 with the launch of Echo, Amazon was in direct competition with other tech giants like Google and Apple. But their latest takeover of Wholefoods seen as the most consequential change for the retail sector and for Amazon as a great investment with the stock price hitting the magical $1000 mark.
Much has been said and written about the transformation of Amazon, the brand. But as I go through their timeline of milestones – one thing that stands out is that they never wavered from the core value. Which is relying on data to deliver superior consumer experience. Not just meeting the current expectations but also changing the expectations. Amazon Prime made ‘same day delivery’ almost a hygiene factor in online market place. By getting into the basic everyday products through Wholefoods, Amazon is poised to disrupt the overall retail sector beyond recognition. ‘Screen less’ shopping like Amazon Dash could very well become the norm rather than the exception
In his latest letter to his shareholders Jeff Bezos (who became the world’s richest man for few hours)” ) cited ‘true customer obsession’ as Amazon’s driving value. Not competition, product, technology or a particular business model. With the customers gaining more and more control over their choices – to accept and reject – no brand can survive in the long run without being obsessed about their customers.
Not what they want now but creating an experience they don’t know yet