AMAZON: THE SHOPPING REVOLUTION
Market is a place where exchange of products, services and creativity take place, where some common commodity is transferred by one person and received by another ( in this case money is the common commodity). When the focus of market system shifts entirely toward selling of the entity to customers then an atmosphere of shopping gets created. Before the Internet was a household thing, this atmosphere was used to rely on shopping malls, Convenience stores, Print advertisements, billboards, hoardings, TV and Radio commercials.
But things started changing when Internet came into real existence. E-commerce started to boom and people started noticing. Suddenly, that shopping atmosphere started changing, its focus shifted! Watching this as an opportunity a man name Jeff Bezos started selling books on Internet in the year 1994 and named his site Amazon.com which later on lead him to become the richest man in the world.
AMAZON BUSINESS MODEL
Amazon is like a traditional market, just big in size and relies on digital medium. It is true that most of the initial profits centered around the customers from United States, but today its a global phenomenon. Amazon is a B to C type model, which means Business to Customer. Today the revenue model of Amazon is heavily based on transaction fees from the individual or group sellers on Amazon as a part or percentage of their sales. This is usually combined with other revenue sources, such as, advertisement of products, FBA, SWA, etc.
Amazon is one of the most trusted technology brand by a wide spectrum. One of the most common reason is that it has a strong relationship with its customers. The commitment and trust established by Amazon with its shareholders, is something which has to be praised. Its never-ending sustainability to low prices seemingly looks like an unsolved mystery.
A COMPLETE ALL IN ONE E-MARKETPLACE FOR CONVENIENT SHOPPING EXPERIENCE
Amazon has to be credited for the changes in customer's perspective. Sometimes a not so usual question arises in our mind that "How Amazon changed the way we shop?".
This can be answered simply by using just one word, which is "Convenience".
Convenience is directly proportional to easiness and indirectly proportional hassle. Both of these conditions are fulfilled by Amazon using electronic mediums, which involves tasks like listing, sorting, adjusting, delivering and storing of a product. All of these operational strategies of Amazon make sure that customers get a hassle free and one place market experience.
AMAZON OFFERS AND MEMBERSHIP
Traditionally an offer means an add-on gift or service given by the business to the customer for completing a targeted action. Amazon also have plenty of offering schemes and golden placard of membership ( i.e. Amazon prime).
Amazon provide their offerings in the following manner-
Free delivery over a specific spending amount ( For Amazon.in free delivery can be generally avail over the purchase of 500 INR)
Cashback offers on Amazon when a product is bought by paying from some specific payment portals.(i.e. Cashback when paid through Amazon pay wallet)
Amazon also offers many coupon schemes too, buying a product from Amazon and using a scratch coupon number in add coupon column in amazon cart area, helps the buyer to avail some discount.
AMAZON PRIME MEMBERSHIP
Amazon prime membership not only offers free delivery, FBA , SWA and discount offers but also provide a subscription of Amazon prime content media too, where members can not only watch original contents of Amazon prime like movies, stand-ups, web series and sitcoms but also the other digital streaming contents too. (i.e. Mirzapur and Comicstaan).