Introduction to Amazon
Lesson 3 Chapter 1 Module 1
Now that you know what eCommerce is, it's time to look at one of the most successful eCommerce stories: Amazon.
Amazon was launched by Jeff Bezos in 1995 from his garage. It began as an online bookstore.
Although Amazon is famous for being an 'everything store' today, it's still one of the largest online book stores in the world. In fact, it's the largest book store in the United states by far.
During Amazon's first days Jeff Bezos and his employees packed books and took them to the post office themselves. Even after Amazon had to build warehouses to store inventory, many investors wrote the company off as "just another dot-com fever dream". They argued it was just a matter of time before it would be wiped off the map by Borders and Barnes & Noble.
Imagine the surprise when Borders filed for bankruptcy protection in 2011 (not to mention the hundreds of stores they have had to close since then).
Barnes & Noble is not the industry leader those investors thought it would be.
Meanwhile, Amazon has moved into almost every imaginable type of product, media, and service. It accounts for more than half of all online retail sales.
Let's have a look at Amazon's growth over the years:
As with the previous lesson, there's just one thing I want you to see at this stage:
growth, growth, growth.
That being said... I do hope you're at least starting to connect the dots too. Massive opportunity awaits YOU, fellow South African!
Let's dive into the next lesson.