While most think of Amazon (NASDAQ: AMZN) as purely an online hub for products ranging from electronics to clothing, a new business approach is rising to the surface. A fresh method of making sales, Amazon has established themselves as an physical, tangible bookstore with the recent launch of Amazon Books in New York City.
While most think of Amazon (NASDAQ: AMZN) as purely an online hub for products ranging from electronics to clothing, a new business approach is rising to the surface. A fresh method of making sales, Amazon has established themselves as an physical, tangible bookstore with the recent launch of Amazon Books in New York City.
While most think of Amazon (NASDAQ: AMZN) as purely an online hub for products ranging from electronics to clothing, a new business approach is rising to the surface. A fresh method of making sales, Amazon has established themselves as an physical, tangible bookstore with the recent launch of Amazon Books in New York City.
In 1994, Amazon was formed as an online bookstore. Their presence on the web as a bookstore meant that customers could seemingly reach an infinite amount of books - an advantage that brick-and-mortar, or physical bookstores could not provide. Led by Founder and CEO Jeff Bezos, Amazon quickly found success as a bookstore, making a profit of 20,000 within the first two months. Likewise, Amazon quickly extended their sales past books, becoming a center for apparel, electronics and home supplies. In addition to consumer goods, CEO Bezos led Amazon deeper into online markets in 2007 with Amazon Music, a platform that offers a music store and music streaming services. In addition, Amazon created Amazon Studios in 2010, a subsidiary of Amazon dedicated to developing television shows and films for online consumption. Perhaps the most profitable extension of Amazon in the online market was with the establishment of Amazon Web Services in 2006, a cloud computing service that offers content delivery and storage to a plethora of companies for an affordable price. In 2016 alone, Amazon Web Services provided 8% of Amazon's revenue in the fourth quarter of that year, proving to be a valuable asset to the company as a whole.
In 1994, Amazon was formed as an online bookstore. Their presence on the web as a bookstore meant that customers could seemingly reach an infinite amount of books - an advantage that brick-and-mortar, or physical bookstores could not provide. Led by Founder and CEO Jeff Bezos, Amazon quickly found success as a bookstore, making a profit of 20,000 within the first two months. Likewise, Amazon quickly extended their sales past books, becoming a center for apparel, electronics and home supplies. In addition to consumer goods, CEO Bezos led Amazon deeper into online markets in 2007 with Amazon Music, a platform that offers a music store and music streaming services. In addition, Amazon created Amazon Studios in 2010, a subsidiary of Amazon dedicated to developing television shows and films for online consumption. Perhaps the most profitable extension of Amazon in the online market was with the establishment of Amazon Web Services in 2006, a cloud computing service that offers content delivery and storage to a plethora of companies for an affordable price. In 2016 alone, Amazon Web Services provided 8% of Amazon's revenue in the fourth quarter of that year, proving to be a valuable asset to the company as a whole.
In 1994, Amazon was formed as an online bookstore. Their presence on the web as a bookstore meant that customers could seemingly reach an infinite amount of books - an advantage that brick-and-mortar, or physical bookstores could not provide. Led by Founder and CEO Jeff Bezos, Amazon quickly found success as a bookstore, making a profit of 20,000 within the first two months. Likewise, Amazon quickly extended their sales past books, becoming a center for apparel, electronics and home supplies. In addition to consumer goods, CEO Bezos led Amazon deeper into online markets in 2007 with Amazon Music, a platform that offers a music store and music streaming services. In addition, Amazon created Amazon Studios in 2010, a subsidiary of Amazon dedicated to developing television shows and films for online consumption. Perhaps the most profitable extension of Amazon in the online market was with the establishment of Amazon Web Services in 2006, a cloud computing service that offers content delivery and storage to a plethora of companies for an affordable price. In 2016 alone, Amazon Web Services provided 8% of Amazon's revenue in the fourth quarter of that year, proving to be a valuable asset to the company as a whole.
With the recent establishment of Amazon Books in New York City this month, Amazon appears to be going backwards from its online focused marketing strategy. Returning to the market of books, Amazon Books is boldly offering a new shopping experience with a blend of tangible items and data mining. The store reportedly only stocks 3,000 of the most known book titles that are supported by online data from readers themselves. In doing so, customers can instantly see how many books have been judged online, as well as their approval ratings. In addition to the analytics driven shopping experience, the store is lined with Amazon products such as the known e-reader Amazon Kindle, and hard drives. In addition, Amazon appears to foster competition by offering Apple's (NASDAQ: AAPL) iPad competition, the Amazon Fire, as well as Google (NASDAQ: GOOGL) Home's smart speaker competitor, the Amazon Echo.
With the recent establishment of Amazon Books in New York City this month, Amazon appears to be going backwards from its online focused marketing strategy. Returning to the market of books, Amazon Books is boldly offering a new shopping experience with a blend of tangible items and data mining. The store reportedly only stocks 3,000 of the most known book titles that are supported by online data from readers themselves. In doing so, customers can instantly see how many books have been judged online, as well as their approval ratings. In addition to the analytics driven shopping experience, the store is lined with Amazon products such as the known e-reader Amazon Kindle, and hard drives. In addition, Amazon appears to foster competition by offering Apple's (NASDAQ: AAPL) iPad competition, the Amazon Fire, as well as Google (NASDAQ: GOOGL) Home's smart speaker competitor, the Amazon Echo.
With the recent establishment of Amazon Books in New York City this month, Amazon appears to be going backwards from its online focused marketing strategy. Returning to the market of books, Amazon Books is boldly offering a new shopping experience with a blend of tangible items and data mining. The store reportedly only stocks 3,000 of the most known book titles that are supported by online data from readers themselves. In doing so, customers can instantly see how many books have been judged online, as well as their approval ratings. In addition to the analytics driven shopping experience, the store is lined with Amazon products such as the known e-reader Amazon Kindle, and hard drives. In addition, Amazon appears to foster competition by offering Apple's (NASDAQ: AAPL) iPad competition, the Amazon Fire, as well as Google (NASDAQ: GOOGL) Home's smart speaker competitor, the Amazon Echo.
Along with showcasing Amazon products, the new brick-and-mortar store appears to foster the growth of its paid subscription service, Amazon Prime. Instead of accepting cash, Amazon Books accepts payments through the Amazon app for Prime members. Customers who aren't apart of Amazon Prime, are still allowed to use credit or debit cards. If that isn't enough, the very books that line the shop do not have prices on them, leading customers to find out prices based on their membership in Amazon Prime. Amazon Books also offers technology kiosks that display the discounts customers can get on books as members of Amazon Prime.
Along with showcasing Amazon products, the new brick-and-mortar store appears to foster the growth of its paid subscription service, Amazon Prime. Instead of accepting cash, Amazon Books accepts payments through the Amazon app for Prime members. Customers who aren't apart of Amazon Prime, are still allowed to use credit or debit cards. If that isn't enough, the very books that line the shop do not have prices on them, leading customers to find out prices based on their membership in Amazon Prime. Amazon Books also offers technology kiosks that display the discounts customers can get on books as members of Amazon Prime.
Along with showcasing Amazon products, the new brick-and-mortar store appears to foster the growth of its paid subscription service, Amazon Prime. Instead of accepting cash, Amazon Books accepts payments through the Amazon app for Prime members. Customers who aren't apart of Amazon Prime, are still allowed to use credit or debit cards. If that isn't enough, the very books that line the shop do not have prices on them, leading customers to find out prices based on their membership in Amazon Prime. Amazon Books also offers technology kiosks that display the discounts customers can get on books as members of Amazon Prime.
While the first establishment of an Amazon bookstore occurred a few years back with its Seattle location in 2015, the formation of Amazon Books in the New York City shopping center Time Warner Center is significant. Years before, the popular bookstore chain Borders Inc. Group also sold books in the very same center before ceasing operations in 2011 due to the shifting focus on online purchasing.
While the first establishment of an Amazon bookstore occurred a few years back with its Seattle location in 2015, the formation of Amazon Books in the New York City shopping center Time Warner Center is significant. Years before, the popular bookstore chain Borders Inc. Group also sold books in the very same center before ceasing operations in 2011 due to the shifting focus on online purchasing.
While the first establishment of an Amazon bookstore occurred a few years back with its Seattle location in 2015, the formation of Amazon Books in the New York City shopping center Time Warner Center is significant. Years before, the popular bookstore chain Borders Inc. Group also sold books in the very same center before ceasing operations in 2011 due to the shifting focus on online purchasing.
While the experience seems new, Amazon isn't the only one to focus on brick-and-mortar retail. While Apple has long used its physical locations to showcase its services, Google has recently opened pop-up stores to feature its new products such as its aforementioned home speaker, and its new smartphone, the Google Pixel.
While the experience seems new, Amazon isn't the only one to focus on brick-and-mortar retail. While Apple has long used its physical locations to showcase its services, Google has recently opened pop-up stores to feature its new products such as its aforementioned home speaker, and its new smartphone, the Google Pixel.
While the experience seems new, Amazon isn't the only one to focus on brick-and-mortar retail. While Apple has long used its physical locations to showcase its services, Google has recently opened pop-up stores to feature its new products such as its aforementioned home speaker, and its new smartphone, the Google Pixel.
Amidst the growing discontinuation of physical bookstore chains, the addition of Amazon Books seems almost ironic. Nevertheless, Amazon does not appear to be stopping soon - another 6 stores are planned for this year alone. While Amazon Books seems to replace older bookstore chains, it is undoubtedly changing the shopping experience into an data driven, futuristic extension of the online market that consumers know and love.
Amidst the growing discontinuation of physical bookstore chains, the addition of Amazon Books seems almost ironic. Nevertheless, Amazon does not appear to be stopping soon - another 6 stores are planned for this year alone. While Amazon Books seems to replace older bookstore chains, it is undoubtedly changing the shopping experience into an data driven, futuristic extension of the online market that consumers know and love.
Amidst the growing discontinuation of physical bookstore chains, the addition of Amazon Books seems almost ironic. Nevertheless, Amazon does not appear to be stopping soon - another 6 stores are planned for this year alone. While Amazon Books seems to replace older bookstore chains, it is undoubtedly changing the shopping experience into an data driven, futuristic extension of the online market that consumers know and love.