If you feel like you are not a success, see some failed projects that Amazon, a $470 billion company, has recently embarked on.
On 2 March 2022, Reuters reported that Amazon plans to close all its 68 physical bookstores in the United States and the United Kingdom. While the Jeff Bezos-owned tech firm has not given a timeline for closure, or a reason, we can reach some easy conclusions.
The experiments failed!
No doubt, the one-time world’s richest man has a soft spot for bookstores. In fact, he’d built the entire concept of Amazon on selling books, and it did it so well that it chased every single competitor into the shadows, leaving them with crumbs.
However, in 2015, the company attempted to correct something about its roots. Based on market data analytics (and sentiments), Amazon opened its first physical book shop in Seattle. From the onset, the idea struggled to take off, and it has to be said that the company did not give up easily.
Also read:
– See rumoured specifications and featues of the coming iPhone 14
– Disney, Warner Bros, Sony Cancel Movie Releases In Russia Over Ukraine Invasion
– How to use Instagram auto-generated video captions.
It started trying out other physical shop concepts like convenience stores without cashiers, supermarkets, and 4-star shops – which sell toys, household items, and other goods. Perhaps, the problem may have been with books.
It is clear that Amazon is suffering from success in the long run. It has fine-tuned the online shopping industry so well that only an underwhelming number of people will visit physical shops.
Its closure announcement reminds me of the upcoming Alexa.com retirement on 1 May 2022 – surprisingly, Amazon Inc. could not succeed in the website analysis industry.
Meanwhile, it also plans to launch tech-backed fashion stores where algorithms guide customers in making choices. If a billion-dollar company can fail on such a grand scale, who are you to beat yourself up.
For your daily dose of tech, lifestyle, and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at info@plat4om.com and join our channel on Telegram at Plat4om. Finally, don’t forget to subscribe to OUR YOUTUBE CHANNEL.
