Amazon is an American organization, one of the largest in the world among companies engaged in selling all kinds of goods and services via the Internet. It is also a leader in the field of sales of mass-demand goods through the system of Internet services. One of the characteristic features of this online store is that every customer can leave feedback about the purchased product and evaluate it. This system helps to select good quality products that deserve to be at the top of the best and most sought-after positions. At the same time, with the help of negative reviews, filter out products of poor quality or non-conforming to state standards.
The company adheres to its own corporate strategy, which makes it the leader of such enterprises. Today, products from 34 categories are available on the site: clothing and consumer electronics, jewelry, garden tools and children’s toys (Sadq et al., 2018). The main competitors of the company are the large retail chain Walmart, Shopify, Instacart and others. Customers choose Amazon because of the low prices. Shopping here is cheaper than in other major American online stores. Amazon initially aspired to leadership in the global e-commerce market – today, the online giant’s products are available in more than 50 countries (Sadq et al., 2018). Amazon’s strategic goal is to be able to shop online from anywhere in the world.
Currently, people are striving to find the most favorable prices for goods, and Amazon is one of the most popular sellers in this regard. Despite the low prices, the retailer’s revenues are growing Amazon’s net profit in 2020 increased by 84% compared to 2019 (Sadq et al., 2018). The company constantly changes prices so that buyers can purchase goods as profitably as possible. In addition to low prices for goods, the company’s success is based on employees’ work. The company actively participates in the training of employees, offering them an advantageous price for the shares of the company, thereby helping them earn additional income and motivating them to contribute to the development of the company. The company constantly offers new opportunities to the best employees. Summing up, the company is one of the most successful retailers with high income despite low prices for buyers.
Reference
Sadq, Z., Sabir, H., & Saeed, V. (2018). Analyzing the Amazon success strategies. Journal of Process Management New Technologies International, 6(4), 1-5.