Fact check: sizing up Amazon
Amazon’s customer obsession and growth get a lot of attention. Since our company was founded 26 years ago, we’ve expanded beyond the U.S. and launched new business lines within retail, as well as in cloud computing, devices, entertainment, and other industries. Our growth has been driven by Amazon's focus on providing customers selection, convenience, low prices, speedy delivery, and great customer service. We're grateful for our customers' feedback and the trust they've placed in us. We’re also proud that Amazon has created more jobs in the U.S. over the past decade than any other company—over 600,000 full and part-time jobs across 40 states (and more than 700,000 indirect jobs in fields like construction, building services, and hospitality).
GlobalData's research also refutes the fallacy that physical retail and online retail are distinct markets. Like almost every other segment of our economy, technology is used everywhere in retail and has only made retail more competitive, whether online, in physical stores, or in the various combinations of the two that make up most stores today. All retailers are acutely aware that, regardless of how the best features of "online" and "physical" stores are combined, we are all competing for and serving the same customers.
Since the start of the COVID-19 pandemic, many retailers are thriving—and most have seen soaring multichannel sales, with orders made online and picked up at curbside spiking nearly 250% in the U.S. In response to this trend, retailers are expanding their multichannel capabilities to meet demand, and GlobalData expects consumers to continue to utilize multichannel services even more in the future. In the U.S., at the peak of the pandemic, only about 20% of retail purchases were transacted online—with more than one third of those transactions driven or supported by physical channels, such as curbside pickup or in-store returns.
Sep 28, 2020 at 20:48