"With an aggressive business strategy that extends their value and diversifies their revenue streams, they continue to shock big business, most recently with their jump into brick and mortar with the opening of their bookstores and beta grocery store Amazon Go. So, how do they do it and what can other companies learn to ensure their own long-term success? The answers may be surprising, as Amazon challenges many traditional lessons we've learned for how to be successful in marketing and in business."
"As you can imagine, their move to brick and mortar was a controversial one, since they so infamously put some of the largest bookstores in the nation out of business, and continue to take a large chunk out of in-store sales. Even though Amazon's success has historically been limited to online, they are feared, as the "Amazon Effect" has been blamed for closing thousands of stores nationwide."
In just 20 years Amazon has become one of the largest and fastest-growing companies and stands as a contender for the first trillion-dollar company. Amazon pursues aggressive business strategies that extend value and diversify revenue, expanding into brick-and-mortar with bookstores and a beta grocery concept, Amazon Go. Amazon challenges traditional lessons about marketing and business and often contradicts typical managerial priorities and performance metrics. The move into physical retail reignited controversy because Amazon previously displaced major bookstores and continues to erode in-store sales; the "Amazon Effect" is blamed for thousands of closures. Amazon also invests in manufacturing, logistics, technology, and data intelligence, making continued disruption likely and offering models for marketers to identify and exploit opportunity.
Read at The Drum
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