When Amazon opened its first physical stores in 2017, the retail giant countered a decade-long trend that has seen online trade rise and rise while traditional shops were brought to their knees. Is the return to offline the next step on the journey towards a customer-focused, omnichannel strategy?
Almost 20 years ago, Amazon founder Jeff Bezos was laughed at by some of the most experienced Wall Street investors when he took Amazon public. The prevalent view was that online sales would never become more than a niche market. Today, Bezos’ characteristic quirky laugh is the only one still sounding: Last year, he was declared the richest man on earth.
Amazon's rise to a shopping behemoth over the past 15 years has been nothing short of spectacular. Eschewing many of the traps that left competitors by the wayside, the company has adapted to new technologies seamlessly, and in the process become the largest e-commerce company in the West.
It is hard to believe that e-commerce was once considered a risky venture. Instead, it has become an essential component of everyday life, accounting for over 30 percent of all sales worldwide and up to 70 percent in certain markets. From groceries ...
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