The Everything Store summary

Amazon started as a small online retailer that started as an online bookstore. Through the online retailer bookstore Bezos aimed at shaping his image and increasing competitive advantage. Through e-commerce, Amazon remains to be one of the greatest stories of the digital period. Since Amazon was launched in 1994 as an online retailer bookstore it has grown immensely to become among the top three largest e-commerce companies. Through the Everything Store by Brad Stone, I learnt of key factors that made Amazon a success internet retailer. For any business to be successful in internet retail, they should ensure they understand their customer's wants and needs effectively (Stone, P. Just like other technological giants Amazon has never been left behind in uncovering new areas that have potential.

Amazon invests a lot in research and development like in 2015 Amazon invested $12. 5 billion which is approximately 11. 7 percent of their net income. Subscription commerce has proliferated over the years through the online subscription service. A variety of products are sold through the service and they include cosmetics, footwear, pantries, toys, food and much more. Through the subscription services, consumers are able to receive products on a routine basis (Hsieh, P. Due to increase penetration on e-commerce and technology new brands with subscription services they are likely to increase their operations effectively. As of 2018, Amazon was shifting it's Prime Pantry Services to a subscription model of $5 per month. In addition, the services serve the need of a specific client such as a handmade cosmetic.

Subscription services pull together and select products that cater to a client's personal preference as they offer options for customization and personalization (Widodo, Teguh, Revie & Sary, P. The subscription services facilitate automated shipments for purchase that recur. The automating services save shoppers time as it prevents them from visiting the store to request for shipment of the same items. The service above captures the attention of clients who have a very busy schedule or for individuals with young children or for the elderly individuals. Through the service, Amazon is able to capture the young and the elderly clients as it is not time-consuming and one save a lot of energy. Another lesson I learnt from the For everything Store is that reinvestment is very important for every business to be it online or not.

Amazon's Chief Executive officer and his management team have always supported the reinvestment in the firm through great financial disciple and from time to tome conditioning the market. Since the beginning of Amazon, Bezos has always insisted that the revenue growth of Amazon has been prioritized and that for the business to achieve growth capital reinvestment is mandatory. Bruzos has always focused on long-term profits therefore, he has always explained to investors and analysts to understand that Amazon if profitable it's only that he does not focus on profits only. Through the services, the firm also leverages the client's data. Through the data, the firm improves the predictability of the client's purchase and products in the market. The clients, in turn, get a range of products to choose from.