Will Amazon.com Force You to Innovate?
FEATURE
Online retail giant Amazon.com Inc. has been innovating for the past 20 years. And some analysts think that’s just the beginning for the largest e-commerce business in the U.S.
Among those analysts is Bruce Merrifield of Merrifield Consulting Group.
During the Specialty Tools & Fasteners Distributors Association’s 39th annual convention in Phoenix, Merrifield pointed out that Amazon sold its first book in 1995. Within four years it was using algorithms and reviews to predict each customer’s next purchase.
In 2015, Amazon surpassed Walmart as the most valuable retailer in the U.S. by market capitalization.
“I’m hard pressed to think of another company in history that’s been more innovative,” Merrifield stated.
That’s why Amazon is threatening every physical (and digital) product channel from Wal-Mart on down, he said.
“Their mission of ‘selling everything needed to rebuild civilization’ is no exaggeration.”
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