What is the Amazon Effect and how can it help my business?
One phrase that is being increasingly used by the business analysts of the world is the “Amazon Effect.” Amazon has become one of the most valuable and fastest-growing retailers in the world. It has made online shopping the norm and is allowing more small business owners the opportunity to make a bigger name for themselves through the exposure to massive consumer audiences. However, the brunt of the Amazon Effect is that Amazon as an online retailer is taking a serious toll on the success of traditional brick and mortar retail giants such as Macy’s, Sears, and Wal-Mart that have been around for years before Amazon. While this isn’t a great thing for them, it is good for those business owners who make the choice to sell their products on Amazon.
Online shopping has made the consumer experience incredibly different than it was 15 years ago in more ways than one. Services like Amazon Prime’s free two-day shipping gives the competitive edge to Amazon sellers because, in many instances, people will search on Amazon for whatever product they are looking for before heading to any other online retailer. Consumers rely on Amazon’s convenience, information security, and wide variety of options to give them the best shopping experience available. It will be interesting to see how Amazon continues to take control of the global marketplace as it expands further into every possible sect of commerce from professional services to original television shows and now, Jeff Bezo’s new interest in space travel.
If you have questions about what it takes to get your Amazon business started, consult with an experienced Amazon accountant who can provide you with the assistance you need today.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation.