+86 15546883080 (China mainland) +852 6554 1700 (Hong Kong)  [email protected]

Size of failures at Amazon will be bigger along with growth

Jeff Bezos warns that Amazon will “occasionally have multibillion-dollar failures” in his annual letter to shareholders

Jeff Bezos in his annual letter to shareholders said that Amazon will be experimenting at the right scale for a company of its size and occasionally have multibillion-dollar failures.

As the company grows, he said, it only makes sense for their failures to grow at a larger scale. Bezos mentioned the creation of the Amazon Fire phone and Echo, which developed around the same time.

Amazon Fire turned out to be a failure. Amazon discontinued the phone in 2015 and took a $170 million write-off, writes CNBC.

“We were able to take our learnings (as well as the developers) and accelerate our efforts building Echo and Alexa,” Bezos said.

Bezos also highlighted his focus on global retail of which Amazon “represents a low single-digit percentage”. He described customers experience at Amazon Go, which allows customers to walk in, shop and leave the retail store without queuing, to be ‘magical’, reports Financial Express.

 

More Amazon news

What is Amazon FBA New Selection program?

What is Amazon FBA New Selection program?

A no-risk program for new sellers on Amazon Amazon is now offering free storage, free removals, and free return processing for a limited time for new-to-FBA ASINs. On top of that, if you’ve never sold a product using Amazon’s fulfillment services, you can qualify for...

read more
Chinese government is going after Alibaba

Chinese government is going after Alibaba

China hits Alibaba with record $2.8 billion fine China slapped a record $2.8 billion fine on Alibaba Group Holding Ltd. after an anti-monopoly probe found it abused its market dominance. The Chinese government launched an investigation into Alibaba in December to...

read more
What is fuelling the rise of Chinese sellers on Amazon?

What is fuelling the rise of Chinese sellers on Amazon?

75% of new sellers on Amazon are from China China-based sellers represent 75% of new sellers on Amazon in 2021, according to a report by Marketplace Pulse. This marks a significant increase from 47% in the previous year. While this hasn’t yet impacted the GMV (gross...

read more