Amazon.com has risen through the ranks of the internet to become one of the biggest retailers in the world, valued at $59.1 billion. For a company that wasn’t profitable in its first few years, that is quite remarkable. In a lot of way, its brings Walmart’s convenience to the internet by creating a one stop shop synonymous with online shopping.
In recent years, Amazon has continued to build its loyal followers through program like Amazon Prime. For a nominal yearly fee, Amazon Prime members receive free two day shipping and $3.99 overnight shipping on most items. For a lot of consumers, the nominal fee would override the savings, that is, until you start going to Amazon first. Now, when I am looking for everything from books and electronics to clothes and make-up, I stop by Amazon first to compare prices.
Well, now that Amazon has conquered the digital world, they are expanding to a brick and mortar pop-up store in London. Hard to believe that the tech bubble was only about ten years ago, when everyone feared that retail shopping was dead. Now, digital stores are trying to monopolize all shopping.
Amazon’s store will be one where you buy online and pick-up in a store. Just in time for the Holiday season. Pretty neat stuff, Amazon. Wish I were in Britain!
Update 12/7/09: Turns out this, as reported by the Sunday Times, is just a rumor! A spokesperson said that they have no plans to open a store for the holidays.
Also, in reference to Ellen Cayer, it would certainly be much more cost effective to continue only online, the point of opening the store would be two fold: to experiment with the order online, pick up in store model popular in stores like Target and Bed Bath and Beyond and for PR. A temporary pop-up store would be a major draw for consumers.