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A response please no more than 180 words and internet reference. Thank you In 1994 Amazon was founded by Jeff Bezos. Amazon is an online retail company that sells products such as books, e-books, ele
A response please no more than 180 words and internet reference. Thank youIn 1994 Amazon was founded by Jeff Bezos. Amazon is an online retail company that sells products such as books, e-books, electronics, Kindle e-book readers, and tablets. It is considered the largest online retailer in the world. Amazon owes most of its success to its immense selection of products at competitive prices. their success is also due in part to the success of the Amazon Kindle, which is the leading e-book reader. In addition to the United States, Amazon also has retail websites specifically for the UK, Canada, Japan, China, France, and several other countries.Did the company maintain the same strategy both at home and abroad? Yes, but while Amazon is succeeding in Germany, India, and Brazil, it completely failed in China.Home Market strategyIn 2017, Amazon's market share of the U.S. e-commerce retail market was 37 percent, and this is expected to increase significantly by 2021. Amazon largely dominates the U.S. market due to innovative services such as Amazon Prime and products and through acquisitions. One of the company’s not-so-secret-weapons to increase customer spending is Amazon Prime, a subscription membership that includes free and faster shipping options as well as streaming music and video. As of December 2018, 62 percent of Amazon’s customers in the United States were Amazon Prime members. This is relevant to Amazon’s success as a company, as Prime members are highly engaged shoppers who spend more than double the amount of non-Prime members on the platform per year (Tugba, 2020). Low prices, big selection, and fast delivery are also cored to its business strategy. Amazon also pursuit an acquisition strategy to dominate the U.S. market such as the acquisition of Internet-based companies like ShopBop, Zappos, BookSurge, Audible, Box Office Mojo, and AbeBooks, Whole Foods, to name a few.International Expansion.Amazon’s international business is important to its overall model, accounting for 28 percent of its revenue in 2018.China has long been difficult for Amazon. Amazon enters China via acquisition, its typical market entry strategy. It purchased a subsidiary online retailer there in 2004 and has worked for more than a decade to build its Chinese e-commerce business. But the country has become almost entirely cut off to foreign online retailers, given the dominance of platforms like Alibaba and JD.com, which together account for almost 75 percent of all retail e-commerce sales in China in 2018 (Rachel Siegel and Joanna Slater, 2019).Amazon Germany, on the other hand, is the company’s biggest foreign presence, accounting for one-third of the company’s sales revenue, and 27% of sales in German e-commerce is generated on Amazon.de. Amazon succeeded in Germany by introducing the same strategy as used in the home market. The company satisfied a market gap by offering an easy-to-use website, with a selection of products far wider than its competitors, fast shipping, and a very generous return policy (Aaron 2020).India - The key to Amazon’s strategy in India is its ability to think globally but act locally – leveraging its massive scale, logistics capabilities, and balance sheet while creating customized local offerings developed ground-up for the Indian market. By acting Locally, Amazon had to adapt delivery and fulfillment. Like in the U.S., Amazon uses a centralized shipping platform – the FBA, Amazon also localized its fulfillment platform in India by introducing Easy Ship and Seller Flex. (Vijay Govindarajan, 2016)From the above, it obvious that Amazon's success in international expansion in India, Germany, and the UK has been due to its strategy to think global and act locally. Localizing and adapting to each market is vital for international expansion. Secondly, market research is necessary to identify a market gap to fill, that your business has a competitive advantage and lack of this accounted for its failure in China