Metrics like this keep Amazon growing at a 50% clip when retailers elsewhere are struggling to survive. The secret is their twin focus areas:
- Fulfilling the customer expectations/needs, and,
- Reduce waste in all processes to lower the costs of doing business.
And, that has been the signature difference between Amazon and other companies – a long-term focus on their business strategy and a relentless pursuit to achieve its goals without fretting over short-term reactions of the Wall Street.
Amazon now claims to have more than 20 million products in stock, majority of them being non-media goods, 164 million customers, and achieved a 99.99% on-time delivery before Christmas in December 2011. But to Bezos, it means that one customer in 10,000 did not get their orders delivered on time – anything less than 100% is not satisfactory! That is the kind of focus it takes to be the number one online retailer and grow like Amazon.
- Forbes. April 23, 2012.
© Vivek Sehgal, 2012, All Rights Reserved.