Word: amazon
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...brick-and-mortar retailers slashed inventories to offset the pullback in demand, shoppers stampeded online to see the full selection at competitive prices, says Keith Jelinek, a director at AlixPartners. "It was definitely a competitive advantage for Amazon," he says. The Seattle-based retailer posted a 40% earnings increase in full-year 2009, with the biggest gain coming in the fourth quarter, where net income shot up 71% - far above Wall Street's expectations...
...Amazon didn't just have a broad product selection during the holiday season, it had a firm grasp of the consumers' many needs. Cash-strapped shoppers flocked to the site for its low prices, ready-to-ship inventory, shrewd consumer product reviews, low shipping fees and the holiday season's trendiest gadget, the Kindle. It refused to back down from pricing wars with Walmart and Target over books, and made a big push into electronics to tap the void left by the demise of Circuit City and Tweeter over the past year. (See nine e-readers to gawk...
...Amazon's sales grew 42% in the fourth quarter, outpacing e-commerce in general, which rose 5% to 10%, according to Colin Sebastian, senior research analyst at Lazard Capital Markets. "Amazon has emerged as the Walmart of the online retail world," says Sebastian...
...Amazon's foray into the digital-book business with its groundbreaking Kindle reader that's been making the biggest headlines lately, as sales far exceeded analysts' expectations. Its decision to allow customers to download best-selling books from its e-bookstore to the Kindle for only $9.99 a pop played a big role in stimulating demand. "When we have both [hardcover and e-book] editions, we sell six Kindle books for every 10 physical books," said Jeff Bezos, founder and chief executive of Amazon, in a statement...
...However, Kindle's lead and popularity are far from entrenched as the book industry braces for a digital revolution similar to what happened to the music industry more than a decade ago. So far, Amazon's Kindle has had a first-out-of-the-gate advantage over rival e-readers from Sony and Barnes & Noble. But industry experts believe the recent launch of Apple's highly anticipated iPad tablet, a device that offers Web-browsing, e-mail and other laptop functions in addition to an e-reader, could be the Kindle's biggest threat yet. Apple has already signed...