Remember when all Amazon did was get you books? They are spending billions of dollars to grow into dozens of industries: music streaming, groceries, retail, the internet of things and managed web services. Their Amazon Echo line (Dot, Show, Look, Spot, etc) is a lead in the digital assistant marketplace. As a result, my whole family is growing up with Amazon.
Google, Apple and Microsoft have made recent acquisitions to cement their place in consumers’ homes, wallets, office and hearts. Amazon has been very strategic about their moves, and it is paying off in dividends…literally. Jeff Bezos, the CEO of Amazon, is the wealthiest person in the world ($131 billion and growing), and he bought the Washington Post as a side project.
My children will never know a time when they have to wait for something, and they can get almost anything from one location: Amazon.com. Here is what it means for them to be a generation growing up with Amazon:
- Hey Alexa – My generation (Gen X) was the first one to grow up with computers. Millennials grew up with touch as their means of acquiring information. Generations Y and Z will be the first ones to grow up with voice through digital assistance. The Echo line (Alexa) answers history questions, controls the lights in your home and tells you how much gas is left in the car.
- Kindle – The Kindle doesn’t do as much as the iPad, and that’s a good thing. The Kindle starts at under $40, and it can download hundreds of apps, games and movies. It is a great starting point for kids. Even if your child drops it, and the screen cracks, it cost less than $40! The Kindle gives access to hundreds of movies and songs (Amazon Prime), and it serves as a powerful media consumption device.
- Retail – Amazon recently purchased Whole Foods for $13.7 billion. Amazon retail stores are popping up on college campuses. With AmazonGo, shoppers walk into the store, grab what they want and walk out. In addition to owning the online shopping experience, Amazon is changing how we shop IRL (in real life). While other physical stores are closing their doors, Amazon has found a way to open more.
- Shopping – My daughters purchase school supplies, clothes, books (of course), music and movies from Amazon. The Prime service is even more amazing because users receive items with free 2-day shipping. I ordered an adaptor and it arrived the same day! Amazon offers no rewards or special perks, but family knows Amazon is where you go for everything!
- Ring, Ring – Amazon started a special service for people to have packages delivered in their homes. The delivery person unlocks the door, brings the package in your house and leaves your home. As a follow up, Amazon bought the Ring doorbell service. In addition to the doorbell, there are camera and lights to track people coming to your home. Amazon will own all of those data.
My girls are growing up with Amazon the same way my father grew up with Sears. What’s next for Amazon? Rumors are they will branch into banking. They could save consumers millions of dollars with an Amazon credit line or bank. Users would have no transaction fees as long as they bought from Amazon. They are building their own library of fresh new video content for streaming. With the new generation of users growing up Amazon, the sky (and beyond) is the limit!
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Scientifically Speaking, of course…