Amazon has been successfully innovating for three decades, but what’s worked so far may not suffice for the next stage, says Julian Skelly This week, Amazon celebrates its 30th birthday. From humble beginnings as an online bookstore, it’s evolved into a global brand, reshaping industries and redefining how we shop, work, and live. In a world where human life expectancy is increasing, the average lifespan of companies has dramatically decreased from 67 years in 1929 to a mere 15 years today, according to Yale University.
Reaching the 30-year milestone is no small feat for Amazon . Traditionally, disruptors challenge established norms and test strategies, products, and services against the existing market. Along with Amazon, newer players like Chinese e-commerce giants Shein and Temu share this creative spirit.
These companies challenge the status quo by continuously innovating, forcing the market to adapt to their new business methods. For instance, Shein, a leader in the fast-fashion space, is expanding into furniture, electronics, and pet care, introducing up to 10,000 new items on its website daily. With the e-commerce market becoming increasingly saturated with major players, can Amazon continue to innovate and maintain its position as a leader in the space, and what strategies will it use to sustain its success? Back in 1994, Jeff Bezos had a vision that the internet would revolutionise how we buy and read books.
With determination and a garage in Bellevue, Washington.
