30 July 2014

Amazon launches a shopping device which comes with a phone!!!

30 July 2014
Amazon launches a shopping device which comes with a phone!!!

This is a sign of things to come. Statistics show that when it comes to online purchases in the US there is only about 5% market penetration and while in Canada there is 2% market penetration when it comes to online shopping. What this means to retailers is that there is plenty of room to move in that space.

Giant retailer Amazon has just launched their first smart phone called the “Fire Phone”. At first glance, it looks like a tricked out BlackBerry10 but from what I can see, there are some pretty cool features on the device. The main one being that you can take a picture of a product and using the image the phone with take you to Amazons website and you can purchase that item instantly. How cool is that!

The second really cool feature that we noticed on the phone was the Zillow APP which is changing the way that people source real estate. This is a useful APP for anyone who is interested in finding out about more than just details on a house it also lists the amenities in the surrounding neighbourhood.

From what I have seen this phone is not going up against just Apple and Samsung but rather all smart phones. Amazon has identified the consumer based market place where it looks like consumers will be able to make their lives much more efficient from their hand held device.

What this means for the retailer is that if “Fire Phone” is taking care of all of your impulse buying needs then it is important for most brick and mortar retail shops to catch with their online sales or get left behind. I think it is pretty safe to say that Amazon at this point probably has all of the stats on online retail shopping and consumer behaviour at their disposal and while the company has not turned a profit on the books with the Fire Phone as they are working on creating brand awareness which costs large in the telecommunication industry. Amazon is indeed primed (pardon the pun) and positioned to take advantage of the global online shopping market that they have created. I mean the logic is there, people go online to research most purchases and services that they are interested in purchasing and if they find it online at a better price then chances are they are going to buy it right then and there. What this means is that retail sales will continue to slow and companies will start entering the online market space in a big way.

Over the next 5 years the global economy will become more seamless and the global market place more localized. This gives way for smaller players to take advantage of vast markets. With the internet shrinking the world there are great opportunities for companies to grow there businesses.

One of my favorite shows on television is House Hunters International – it takes you all these different exotic places that one would never dream of moving to permanently and you discover that they are just like where we live but the main difference being geography and culture and language in some cases.

So while the global economy is becoming more and more a reality it’s pretty safe to say that internet shopping is only going to get more and more competitive and so if you have a product or services to offer then we suggest you start your 24 hour store on the internet (if you don’t already have one) and get opened for business.

Nexonta Technologies Inc