Today is Amazon’s 20th birthday. If it was a person, it would now be old enough to drink in Iceland and Japan, and vote in Bahrain and Taiwan.
Whether you love or hate the retail Goliath, it’s always on the up – getting bigger and bigger every year.
Here’s five reasons it could take over the world:
The giant wants to start trialling a new service where it drops packages outside people’s homes with a neat little drone. Watch this video of Amazon’s Prime Air service, as it drops a package off outside a clean American family’s lovely home (FYI Amazon, nice idea but these packages wouldn’t last two minutes on most London streets).
2. Billion products
Amazon plans to have a billion products listed on its site, but for now UK CEO Chris North said 200 million will do in the next couple of years. There’s already 120 million, he said.
3. More depots
It plans to open a depot a year in the UK and is taking on more and more third party sellers. Third parties now account for 40% of Amazon’s sales and Amazon takes a cut from each of them.
Some critics argue part of the reason Amazon’s profits are so high is because it pays only 0.1% tax. Last year, it paid £4.2m tax on its £4.3bn sales. This is because money flows through its low-tax arm in Luxembourg, something North has said is perfectly legal.
The colossus is Tesco’s biggest competitor, according to the British supermarket’s CEO Philip Clarke. That’s because Amazon has started selling groceries, and is trialling a new fresh food venture in the US. This could decimate British supermarkets if it came over here.
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