One Bezos masterstroke was the introduction of Prime. The “just walk out” technology works with startling accuracy but attempts to sell it to other physical retailers have met with limited results. It has experimented with Amazon Go conveniences stores where cameras log what a shopper picks up and automatically debit their Amazon account. Photo by David Ryder/Getty Images filesĪttempts to create its own physical store brands have underwhelmed. “They’ve really reached capacity with what they can do with Whole Foods,” says Neil Saunders, a retail analyst.Īn Amazon Go retail store at the company’s headquarters in Seattle, Washington. Industry analysts say Whole Foods’ store formats are inconsistent and have failed to provide suitable hubs for grocery delivery in a way that some onlookers had predicted. Revenue from Amazon’s physical stores unit has grown by just 10 per cent over the period. Five years on from the US$13.7 billion acquisition of Whole Foods, Amazon has yet to come up with the reinvention of physical retail that traditional supermarket chains feared when the deal was announced. Less fashionable but arguably as important to Amazon’s future is its misfiring grocery business. While AI and machine learning technology can be found across AWS and within Amazon’s own operations, there is sizeable concern even among the company’s supporters that it has already fallen behind in the “generative” AI race, compared with moves by Microsoft and Google. The post-lockdown adjustment is also intensifying scrutiny of Amazon’s expansion into new business areas, especially artificial intelligence where an unprecedented land grab for the breakthrough technology is rapidly getting under way. But that is what it is today, and we’ll keep moving forward.” “ may be taking longer than is typical, or than we think should be the case. “You have to work within the confines of whatever the situation is,” he says. Those familiar with his leadership style say he comes armed with “substance” and “data” a contrast to Bezos’s big persona.Ĭompared with the company’s previous comments on the supposed motives of regulators - Amazon has accused the FTC of bias and harassment against the company and its executives - Jassy seems ready to cut a more diplomatic posture in 2023. While Bezos generally shunned the company of politicians, Jassy is more comfortable in the corridors of power, making frequent trips to Washington. Outside of Amazon’s Seattle base, one significant difference between the two men becomes apparent. “We’ve had a very long, strong relationship for 20-plus years. Jassy says he speaks to his predecessor around once a week. Photo by MANDEL NGAN/AFP via Getty Images filesīezos remains Amazon’s largest individual shareholder, with a 9.7 per cent stake, and is the executive chair. Washington Convention Center in Washington, D.C., 2019. The push for union recognition has yet to gain serious momentum outside of New York state, but poses the constant threat of negative publicity. Another says Amazon must “strive to be the world’s best employer,” added in the wake of a unionization movement that took the company by surprise in April 2022. “We must be humble and thoughtful about even the secondary effects of our actions,” read one, in relation to the company’s growing impact, primarily on the planet. But days before Jassy took the helm, Amazon for the first time added two more to the list. Nor has he altered any of Amazon’s core leadership principles, which include things such as “frugality” and “customer obsession”. “I don’t think that will change, it’s an incredibly effective way to communicate information,” Jassy said. He still begins ideas meetings with the famed Bezos method of asking the presenter to write a six-page memo, which meeting attendees read in silence before any discussion can begin. Operationally, little appears to have changed within Amazon under Jassy. This advertisement has not loaded yet, but your article continues below.
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