Now that the first quarter of 2019 is over, there’s one company (in particular) that has a few of us at PowerChord as confused and contemplative as the iconic business baboon.
Let’s see if you can guess which industry giant we’re talking about with these clues.
Which company saw the following headlines in the last 90 days?
If you chose Amazon and/or Jeff Bezos – then you’re right! Alexa is so proud of you!
The online shopping giant had a busy Q1, and it seems that the drama will continue through this year. Our team wanted to take a look at a few moves Amazon made that will have the biggest impact on retail, shopping, and eCommerce moving forward.
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Remember in 2014 when Amazon began opening its tech kiosks in failing malls? Well about a month ago, Amazon announced it would be closing all 87 of its pop-ups that were littered across local malls, Kohl’s, and Whole Foods stores.
This is important for a few reasons.
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According to the latest Retail and Consumer Shipping report from the American Customer Satisfaction Index, Costco took first place in the internet retail category. This ends Amazon’s decade as the front runner in this category.
Taking a closer look, here’s what this means for the retail industry.
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Worldpay processes transactions worth roughly $1.2 trillion per year – making them one of the largest payment technology providers on earth. And about two weeks ago, Worldpay announced they will be offering Amazon Pay as part of their payment and shipping options to their customers.
This headline was mostly overshadowed by the fact that Fidelity National Information Systems spent $43 billion to acquire Worldpay. Regardless, Amazon’s partnership with Worldpay is notable for a few reasons.
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What we’ve realized is that reading these headlines is like a game of chess. Each move the company makes is part of a bigger strategy to extend its reach beyond online shopping and into physical stores. It’s no surprise that they want to dominate brick & mortar retail – they are just taking their sweet, methodical time doing it.
What do you think? Will we all be living in an Amazon-dominated world as early as 2023?
If you’re like me, tracking all these moments will have you primed and ready for the Jeff Bezos world leader biopic. You’ll be streaming it off your Amazon Fire AR glasses while hanging out with your holographic Alexa.
Travis Tyler is a marketing specialist and contributing columnist at PowerChord. He’s also a novice improviser, hockey-player, and Spanish-speaker.