Amazon is an American multinational technology company in Seattle, Washington. Amazon Inc. focuses on cloud computing, digital streaming, and artificial intelligence and is now known as the largest enterprise in the entire world. But how did Amazon came from nothing and suddenly became the largest retailer in the Western world? What’s the story behind it and how much do they earn?
Currently, Amazon is popularly known as the leading e-commerce competitor in North America, Western Europe, and India as an online retailer, eBook Manufacturer, and web service provider.
Amazon even surpasses Walmart as the world’s largest retailer, which is anticipated due to the rapid expansion and success of Amazon. In 2020, Amazon reported having a 43.5% increase in their net sales from $87.44 billion in 2019 to $125.56 billion. Amazon’s quarterly and annual financial statements breakdowns into five categories: Online stores, Physical stores, Third-party seller services, Subscription services, Amazon Web Services (AWS).
Amazon may be the leading e-commerce competitor in North America, Western Europe, and India but not in Asia. Alibaba and its various online entities — such as Taobao in China, Lazada in Southeast Asia, and Tokopedia in Indonesia take over the e-commerce industry in most countries in Asia.
Up until now, Amazon continues to clear its path to dominating both the e-commerce and physical retail industry with its marketing strategy. A huge number of Americans subscribe to Amazon Prime yearly topping 100 million in 2019. Well, who would not avail an annual membership with special discounts on whole foods, appliances, eBooks, television, and movies with a free shipping discount? It’s more of a necessity in every household.
The story behind Amazon is its diversity where the company benefits from several profitable revenue streams. Amazon specializes in disruptive innovation and invests in new industries to take market share away from its competitors. And now, Amazon spans more than 50 countries and reaches the greatest international online population according to Website Builder Expert (WBE). This is why despite all the other retailers around the western world, Amazon shines out from the crowd as the largest retailer in the said location.