Word: amazoned
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Dates: during 1990-1999
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...commerce world has changed enormously since Seattle-based Amazon jumped out to its "first-mover" advantage. There are plenty of second, third and fourth movers to battle. They come in the form of category killers that overwhelm you with selection, expertise, price and service for a given class of goods. Adornis.com is bauble central for luxury items, for instance, and Petopia.com is one of dozens of sites that will shower you and your doggie with selection. On the other side are e-malls such as Buy.com and Shopnow.com Traditional retailers are making the transition...
...sheer number of competitive websites alone will put pressure on Amazon's growth--one reason Bezos is adding categories as fast as he can. During the past year, he's added video games and DVD movies, toys, electronics, software, home-improvement products, auctions and zShops--an online flea market where anyone can sell anything. Bezos says he wants to double his offerings again next year. The company also has minority stakes in other e-commerce companies such as Drugstore.com Pets.com HomeGrocer.com Gear.com and Della.com a wedding and gift registry...
Bezos, naturally enough, is unmoved by the naysaying because he's convinced that as more customers come to his site, he'll be able to offer the lowest prices. And they will come because Amazon simply does the best job of helping them find stuff. But what if they use his site for research, then go elsewhere for the cheapest price? Bezos has considered that as well. And he has a possible solution: "Membership clubs!" he says. "If you want to see all the information we collect on Amazon--the customer reviews, the professional reviews and use our agenting technology...
Most of the market is betting that Bezos wins and that Amazon emerges from what will surely be massive carnage among Internet retailers over the next few years. During the past two weeks, with holiday sales booming, Amazon's stock price has soared to $94. The stock has split three times. Sales are expected to crest $1 billion this year. "We firmly believe," says Salomon Smith Barney's Holly Becker, "that Wall Street will look back on these growing pains and realize management's foresight in developing one of the smartest strategies in business history...
Bezos & Co. conceived an entirely new way of thinking about the ancient art of retailing, from creating a "flow experience" that keeps customers coming back to Amazon's website to read product reviews or one another's "wish lists," to automating as much as possible a complex process that starts when you hit the patent-protected "1-Click" buy technology and ends when your purchase is delivered to your door. The Coffeyville center, for instance, is part of a nationwide distribution network specially designed to handle e-commerce. Half a dozen warehouses like it have been strategically placed...