He is said to be reviewing underperforming business ventures like voice assistant Alexa, which reportedly has failed to produce the expected volume of orders from users. More recently, Jassy is overseeing massive layoffs and hiring freezes, much of them in retail. The company also canceled or postponed dozens of warehouses planned in an expensive expansion of its fulfillment capacity. Under new CEO Andy Jassy this year, the company shuttered most of its non-grocery physical stores. In fact, after surging during the height of the pandemic, Amazon’s retail sales floundered all year, and it appears to be scrutinizing its operations. E-commerce also remains an expensive way to sell products, including at Amazon, which last month warned that profits could vanish in the holiday quarter. While Amazon still dominates online sales in the U.S., with some 40% share according to eMarketer, brick-and-mortar stores still drive 85% of all retail sales, according to the U.S.
Independent retailers, including the bookstores that first encountered Amazon as a new competitor, have survived.
Rivals like Walmart and Target have done a lot of catching up, boosting their e-commerce and leveraging their many stores. The company premised its great disruption on its laser focus on the customer - easing the process of shopping and paying, winnowing delivery times to a couple days or less, and slashing prices.īut the e-commerce giant’s effect on the sector appears to be waning to some extent. Please let us know if you have feedback.Īmazon has spent the better part of a quarter century forcing retailers of all stripes to innovate, speed up and compete.
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