Amazon Aims to Set Up a Larger Number of Stores

The American online retailer intends to establish a bigger number of stores and bulked up Prime service.

 On 17^th May 2016, Amazon CEO Jeff Bezos pledged a larger number of retail shops and new facilities for the organization’s Prime unlimited delivery membership. Mr Jeff, who was addressing at the yearly meeting of the American E-commerce company’s yearly meeting for shareholders, held court regarding a very friendly crowd of regarding 100 that also included news media and workers. Many shareholders thanked Jeff for the online retailer’s increasing stock price, which has reached new heights in recent times.

Mr Jeff stated he wants the $99 Prime membership to provide such a huge number of benefits that customers will feel that they “are being irresponsible” if they are not members. He did not, however, indicate precisely how the organization aims to keep adding to the facility. On 16^th May 2016, the Wall Street Journal that the organization is rolling out many private-label food brands, baby good as well as cleaning products offered only to Amazon Prime members.

The company also plans traditional stores beyond its single book shop in an outdoor mall in Seattle, Mr Jeff stated. The web retailer is building one near the Californian city of San Diego. “We’re definitely going to open additional stores, how many we don’t know yet,” he stated. “In these early days it’s all about learning, rather than trying to earn a lot of revenue.”

The mall operator General Growth Properties chief executive stated in February that he believes the Seattle based company will set up a large number of book shops, though he backed away from his statement after Journal and other publications reported.  During the meeting, shareholders of Amazon rejected by three-fourth or over 3 shareholder proposals that would’ve required the online trading platform operator to reveal more details regarding its environmental conservation efforts, human rights record as well as political contributions.

Amazon had opposed the proposals. But to a huge extent Mr Jeff wasn’t questioned much. In April 2016, The stock of the company reached an all-time price of $717.93. On 17^th May 2016, the shares of the company declined to $696.97 by 1.9%. To a single shareholder who asked the organization to stop delivering foie gas due to concerns over animal suffering during its manufacturing. Mr Jeff stated his team keeps a check on which the organization delivers and that it’s doing a good job.

Additionally, Jeff drew cherry images of the company’s Prime Now 1-hour delivery facility, which is offered in two and a half dozen cities across the globe; its streaming video facility, which has been awarded for its original programs and converted consumers into paying Prime membership and the cloud computing division Amazon Web Services. Mr Jeff has stated the cloud computation division is set to reach sales of $10 billion in 2016.