This is the opinion of Dirk Mulder (retail expert ING) Linkedin, referring to research in the Wall Street Journal, quoted by, among others FD:
“Online retail is undergoing a major change: the rise of online #platforms. The great strength of platforms is that they attract a lot of people and, based on data, they can make the offer increasingly customer-oriented. The only caveat is that the data is then also with the platforms and not with the providers. This allows the platform to use data to improve its own product. ‘
Although platforms can be a good way to market your product, there are also disadvantages, Mulder concludes after consulting his sources. ‘Amazon in particular has a negative reputation in this regard. For example, Amazon’s hidden strategy is increasingly emerging: hooking up with start-ups and then competing with them. ‘
Wall Street Journal To reach this conclusion, interviewed more than 25 entrepreneurs, investors and transaction advisers who report that Amazon appears to be using the investment and transaction process to develop competing products. In some cases, Amazon’s decision to launch a competing product meant the end of the business. In other cases, the platform spoke to start-ups about potential acquisitions, tried to find out how their technology works, then declined an investment and then launched similar products under the Amazon name. “
Amazon founder and CEO Jeff Bezos caused a sensation on July 20, 2020 by becoming an extra $ 9.2 billion (8.1 billion euros, ed.) In one day. Amazon then set a new record on Wall Street and thanks to Bezos’ shares in the company, that meant a substantial (paper) profit for him. Bezos reached through that hit according to business medium Bloomberg that day a total capital of 161 billion euros. The second richest person on earth, Bill Gates, owned $ 102 billion that day. A smart businessman or is Amazon out of control? Amazon also landed in the Netherlands in March 2020.
(PvWK, sources: WSJ, FD, Nu.nl, MT, Bloomberg and Linkedin; image: Piotr Cichosz / Unsplash)