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Story Of Amazon has over the years grown to be one of the biggest names in the world. From its global e-commerce market to the myriad of opportunities it has opened up, there is so much that you need to know about it. But the main question is what sets it apart? why is it the sole king of e-commerce?
What Sets Story Of Amazon Apart From Its Competitors?
There is no denying that Amazon is a class apart from its competitors. From becoming a pioneer in the e-commerce industry to becoming the biggest e-commerce giant, there is just something about Amazon. Amazon has over the years seen more highs than lows, but what’s so unique about Amazon? What is it that sets Amazon apart from its competitors? Following are some key points that highlight Amazon’s differentiating factors from other companies.
Online Marketplace Domination
For the last 15 years years Amazon has positioned itself as the market leader for retail products. Amazon makes a staggering 1.9 billion dollars of revenue daily. Wild right?
This is because of the third-party merchants who sell their products Entrepreneurs can display and showcase their products and earn profit. More than 7000 entrepreneurs with annual sales of more than $100,000 are on Amazon. This puts conventional brick-and-mortar at a disadvantage.
Exceptional Customer Service
#customerservices
Amazon was the first of its kind when it came to user-friendly customer service. As compared to others, its customer service has always been efficient and of the highest standard. They have an easy return policy, fast shipping and personalized recommendations that set them aloof.
Pricing And Strategy
Another advantage of Amazon is that it has a myriad of possibilities when it comes to products. There are numerous options when it comes to products for customers, significantly low-cost products.
Technology And Innovation
Amazon has continuously evolved in terms of technology and innovation. This includes cloud computing, artificial intelligence, Alexa and logistic innovation. Amazon currently has the highest standard of technology for its warehouses.
Global Purchase Options
Story Of Amazon has given this option to its customers to buy items from markets other than their own, and it is presently accessible in English, Spanish, Brazilian Portuguese, Chinese and German.
Amazon’s worldwide program allows users to purchase in 25 different currencies. Amazon is currently planning to expand this feature.
Efficient logistics And Supply Chain Management
#amazon
Amazon has optimized its logistics network extensively. Their fulfilment centres, advanced inventory, management systems, and use of data analytics streamline operations, that enable quick delivery and efficient stock management.
Marketing To Millenials
According to a recent ComScore research, the Amazon app ranks first in popular applications for millennials. Packed with features, the app allows users to purchase, listen to music, view movies and more, notwithstanding the inclusion of Alexa
Amazon’s Algorithm Strategy
A9 is the organic product rating algorithm for Amazon, which consists of direct and indirect variables to align the search queries of consumers to items they are most likely to buy. The A9 algorithm method that Story Of Amazon uses to determine the classification of items in the search results. This algorithm is more powerful than Google.
How Does Selling On Amazon Work
Amazon uses a multi-level e-commerce strategy to allow professionals and individual sellers to sell their products through Story Of Amazon. As a seller, you can sell anything all you need is an Amazon seller account, provide your product details, list your product, and start selling your products.
How Much Cut Does Amazon Take
It usually depends on the products but Story Of Amazon referral fees fall between almost 8-15 percent.
How does Amazon Get Its Products?
Businesses, individual sellers and manufacturers sell their inventory to Amazon. The products are then listed, and the selling process begins. Once the order is placed, the product is then dispatched.
What Is The Amazon FBA Program
FBA refers to Fulfillment by Story Of Amazon, this program offers sellers services like storage, packaging, and shipping assistance. Sellers send their inventory to the Amazon warehouse, where that product or inventory is kept until an order is placed.
Is It Profitable To Sell On Amazon?
It can be very profitable to sell on Story Of Amazon, however, you need to maintain a gross margin of 50% or higher because Amazon usually takes between 25-30% of the seller’s revenue fees.
Read more: How to work on Amazon in Pakistan?
