Nothing lasts forever. But I like Amazon’s chances. There’s not a competitor on the horizon that can match Jeff Bezos’ empire. He built a ferocious velociraptor that can only be beaten by antitrust regulations.
Twenty years ago, Amazon was an online bookseller. Now, they rake in more than 50% of all digital sales. Ten times more than their closest rival. Not to mention that Amazon helped launch thousands of kitchen table businesses. Their third-party seller division is so successful that college courses are being developed.
Amazon’s e-commerce engine has no weakness for others to exploit. They’ve created the perfect trifecta of quality products, low prices and same-day delivery. And if that’s not fast enough, stay tuned for all-electric vans and drone delivery.
Amazon has a footprint in everything from aerospace to Diapers.com. Every piece of their portfolio is carefully stitched into the fabric of American life. From Amazon Prime Video and music, to Twitch gaming and the Washington Post.
Still, when Bezos bought Whole Foods, I didn’t get it.
Here’s my take. Now I understand why Amazon got in the grocery business.
The company recently announced that unwanted purchases can now be returned at Whole Foods stores. No need to box them up and drive to the post office.
It seemed odd, but I headed to Whole Foods without a shopping list, just my return in hand.
The transaction was smooth and easy. So I thought I’d check out the store. Thirty dollars later, I left Whole Foods with a bag of groceries. They got me. But I had to admire what a great hook to drive store traffic.
Amazon may not last forever. But Jeff Bezos’ bank account will. He just left the company with nearly $200 billion.
