One of the biggest e-commerce players, Amazon, is still worried that it could go out of business if it stops innovating. At this point, you would have thought Amazon is such a big player that it does not worry about such things. However, Amazon’s CTO says that he does worry about innovation in the market. At the Web Summit technology conference in Lisbon, Amazon CTO Werner Vogels revealed that they might ‘go out of business in the next 10-15 years’ if his company fails to innovate in the market.
Also interesting was the fact that Werner believes Amazon will not benefit from directly competing with its rivals such as eBay. In terms of innovation, Amazon CTO gave an example of his prime delivery service and added that “A number of years ago, we released Amazon Prime, which guaranteed two-day delivery for free, included in a package. We’re now shifting that to one day. That’s a massive change. But that’s really what customers are expecting”
He adds that he is a strong believer that if Amazon stops innovating then someone will be doing it better and it is the reason why they could go out of the business while someone else could rise at the top. He also added that the biggest win for any e-commerce company is gaining trust from its customers so that they can shop from the platforms with ease. He also talked about their competition with eBay and how the win is not in competing with each other. Amazon CTO believes that the real win is in bringing more people to shop online and helping customers to place their trust in an online experience. He also says that it is important to ensure that people enjoy shopping online which will make them come again and that is the biggest win