Over the past two decades, Amazon has transformed itself from an online bookseller to a digital powerhouse. The company has undoubtedly become a household name. Amazon’s drive for constant innovation has led to the company expanding its scope in new markets. Their latest venture- the fashion industry.
Amazon launched Prime Wardrobe and Echo Look this year alone. The first service allows customers to try on clothing before buying them while the latter provides them with a virtual stylist. This, combined with Amazon Prime’s two-day shipping and its voice service Alexa, gives the company a competitive advantage. While companies release services similar to Prime and Alexa, Amazon continues to have the upper hand in the market. The company continues to undertake more projects under its wing to ensure that it stays on top.
One of Amazon’s more notable features is its fast shipping. Users can receive a package within hours, with same-day delivery options. Recently, the company has endeavored in the transportation industry. It is considering brokering freights to independent truck drivers. This saves them the hassle of dealing with third-party delivery companies.
This is also beneficial to consumers, who have reported problems using these third-party delivery companies. Another way that Amazon attempts to solve delivery issues is with the introduction of its new service, Amazon Key. If customers opt to buy this service, couriers will be allowed to go inside their homes to drop off packages. This will, in theory, combat delivery theft, which is a significant problem for customers who live in high crime areas.
Both wholesale and retailers are having trouble keeping up with the company’s variety of products and vying prices. Amazon has changed the market and left competing companies faced with the challenge of adapting to these new innovations or be left behind.
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