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These Are All of the Industries Experiencing The Amazon Takeover

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Amazon’s continuous growth is prompting the company to expand into a variety of industries well beyond their initial scope of electronic commerce. Beginning as an online bookstore, Amazon now represents the most valuable United States retailer regarding market capitalization. Amazon founder Jeff Bezos is presently the world’s richest personA combination of success and drive for constant expansion is resulting in an Amazon takeover of several important industries. Amazon still reigns supreme as an online retailer, though clearly that title alone is not enough to satisfy Bezos. His areas of interest are vast, including the following.

Brick-and-Mortar Retail

Just last year, the Amazon takeover included Whole Foods, where they were acquired for $13.7 billion. The move continues Amazon’s battle with Walmart to reign supreme in the retail space. On the other side, Walmart is continuing to refine their online space, while remaining America’s top employer. The battle between these two giants will continue to wage on, with Amazon’s interest in the brick-and-mortar space being no secret.

Even before the Whole Foods acquisition, Amazon’s plans to build convenience stores and curbside pickup locations shows a deep infatuation with becoming a strong brick-and-mortar presence. Beyond a mere presence, Amazon is confident that consumers will continue embracing a model that allows them to order online and pick up in person.

Amazon’s opening of the Amazon Go Store in Seattle in January marks an exciting time for these interests. Customers enter the store and scan their Amazon Go app as they do. Cameras and other sensors track customers’ activity as their browse, registering an item into their virtual cart when they take it off the shelf. Customers are charged when they leave the store with their goods. Amazon terms the idea “Just Walk Out” shopping and hopes to attract customers who despise waiting in lines, as many do.

Amazon’s reshaping of the typical brick-and-mortar presence is introducing consumers to new ideas like “Just Walk Out” shopping. Combined with the acquisition of Whole Foods, the company will without a doubt continue to redefine the brick-and-mortar shopping experience.

Delivery

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Amazon has been shaping the delivery industry for many years now, especially since Amazon Prime’s introduction in 2005. The company’s vow to deliver items to Prime customers in two days or less still presents a challenge to online retail competition, who are well aware that they must match these shipping expectations or compensate in some other way, like offering lower prices. Meeting Amazon’s delivery promises and their costs is a major challenge, especially to new eCommerce businesses.

Beyond Amazon Prime’s major influence on shipping expectations among online retailers, Amazon is redefining what the delivery space means through their utilization of drone technology. Specifically, Amazon Prime Air is introducing a new delivery system, where unmanned aerial vehicles can safely get packages to customers in 30 minutes or less.

Amazon, already familiar with quick parcel delivery, is upping the ante even more in the delivery industry with such lofty ambition. Still, with a private trial already underway in the UK, Amazon Prime Air and the use of drones in delivery is a very real aspect of the future. Upon receiving the regulatory support, we can anticipate Amazon Prime Air to be an option for many.

Technology

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It makes sense that Amazon is continuing to make significant moves in the tech sphere. There’s no doubt regarding the company’s technical expertise and how technology can accommodate access to their variety of products.

Among their technological products is Amazon Fire TV, which streams live TV and enables users to watch hundreds of shows and movies. There’s also the Amazon Kindle Fire, which capitalizes on Amazon’s vast digital library in the form of a tablet computer with a seven-inch multi-touch display. Many still view Kindle Fire as a strong competitor to Apple’s iPad.

Amazon’s Dash buttons, while simple, are also an exciting addition to their array of tech. The Dash Button is a single-function controller that consumers can place around their house near items that need replenishing. Need a new order of Tide paper towels? Order a specific Dash button for Tide, put it near the towels and press the button when you notice them running low. They will then arrive on your doorstep in a couple of days.

Entertainment

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Amazon Prime offers much more than free two-day shipping. One of Prime’s most notable benefits is the increasingly impressive Amazon Video platform. The Amazon Prime Video show Transparent won the Golden Globe Award for Best Television Series, Musical or Comedy in 2005, while 2017 Oscar Best Picture nominee Manchester by the Sea is also developed by Amazon Studios.

Amazon is increasing their influence in both TV and film by producing excellent content, including many notable releases in development. They’re emerging as a viable competitor to cable, Netflix and Hulu.

Whether a consumer prefers reading a book or watching a movie, Amazon is seeking to have the entertainment niche covered.

Is This Amazon’s Peak?

Amazon’s firm grasp across multiple industries begs the question: Is this Amazon’s peak? While it’s impossible to tell definitively, stockholders should monitor the situation closely. Amazon has been a model of consistent growth since 2000. Presently, Amazon’s stock trades for approximately 130 times the business’s projected earnings for 2018 and almost four times its projected sales for 2018.

These growth prospects rely on revenue per customer growth. Although there will certainly be customers who increase their spending on Amazon, it’s difficult to think of any huge breakthroughs or offerings that will prompt more revenue per customer, especially upon Prime’s increase to $119 per year. Many customers may opt to spend that on a Costco membership instead.

Additionally, it’s important to note that Amazon’s acquisition of Whole Foods plays a significant role in the stock increases the past year for Amazon. The market seems to be operating under an assumption that Amazon will make a similarly buzzworthy acquisition this year, which is far from a given.

Still, even if market projections seem a bit optimistic at the moment for Amazon, there’s no doubting that the company will continue playing a significant role in shifting expectations within several industries, from delivery and entertainment to the brick-and-mortar experience.

Kayla Matthews is a tech journalist and writer whose work has been featured on The Week, VICE and MakeUseOf. Read more posts by Kayla on productivitybytes.com.

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The Shift Towards Banking-As-A-Service

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The changing times and the pandemic have created a significant shift in how we bank. In addition, our expectations from banks have also differed through the years. The digitalization of the financial services industry has furthered the plan to get free access to banking data. This is in connection with the Open Banking initiative and the dramatic rise of fintech companies and neo-banks.

The market space that the traditional banks once dominated has now given new players the opportunities to compete alongside them. Indeed, the commoditization of bank services has inevitably begun.

A void to connect banks and these new players has been filled in the form of banking-as-as-service (or BaaS for short) providers. It’s only logical that a service such as this emerges. It’s the order next in line to streamline the customer experience and provide products that are built to engage the modern world. 

What exactly is banking-as-as-service?

The easiest way to explain what banking-as-as-service is is through a few examples, these are:

  • Bank accounts
  • Lending systems
  • Credit card payments

The digital world is changing the relationships of brands and businesses with their customers. It is rapidly shifting and improving that even non-bank companies have already integrated financial services to their customers. Established companies such as Walmart, Apple, Uber, or Amazon have already been doing this to add value to their products and services.

Why businesses should take the banking-as-as-service opportunity

To those in the know, banking technology is a complex matter. Developing it from the ground up can be laborious and expensive. Add to that the challenge of getting a bank license which turns off those trying to get in that niche. What banking-as-as-service does is to connect businesses with banks that take care of the requirements and provide the technology they need to provide financial services through a slew of digital channels.

This process will make banking services more engaging and less transactional. Businesses can now integrate services throughout the buying journey without redirecting them to a different platform. This means customers will no longer do the rigamarole of going from one channel to another. They will get what they need when and where they need it.

And statistics show that it is working. Buy Now, Pay Later (BNPL) services are steadily climbing at a rate of 39% per year for approximately 10 million Britons making their online purchases. 

What now for traditional banks?

Since traditional banks have little appetite for risks, they weren’t built to handle the demands for embedded finance. BaaS companies make it faster and easier for fintechs and other companies to increase their offerings by embedding digital banking services directly into the purchase. Instead of seeing this as competition, traditional banks should collaborate with BaaS to benefit from this embedding.

What can Banking-as-a-service do?

With the help of banking-as-a-service, new players in the finance industry will have the capability of targeting niche communities and coming up with slimmer product sets. Also, the solutions that BaaS offers can give valuable insights to businesses on how they can improve their products or services. They will have the much-needed data to learn about industry trends, saving and spending behaviors, and general engagement with their offerings.

All these means that businesses can have more information on how they can improve the overall customer experience. This also means companies can deliver products and services that are more targeted towards the right customers. The possibilities that banking-as-a-service offers are endless in terms of innovation in the banking and financial services market.

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Playrcart Gives You What You Want – Immediately

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We’ve all watched ads and immediately thought, “I want that. Right now.” Some of us wish we could jump right into the TV and into that sexy Ford F-Series quicker than we can have a second thought. But how many of us have gone to make a purchase only to be discouraged by the needlessly complicated payment process? “Too many,” says UK-based startup Playrcart

We believe this is the future of advertising.” 

Founder Glen Dormieux, along with CTO, Richard Mason, created Playrcart born of that very frustration.

What we’re seeing right now is fairly traditional – they’re doing the same thing time and time again.

Currently, when viewing an ad, you have to go through several pages in order to complete a purchase. How many sales are lost in that time-consuming process? “Too many!” say business owners in a Mr. Krabs-esque demeanor. 

How Does Playrcart Work?

Playrcart has designed its platform to convert digital assets into instant transactions within the ad itself. How is that possible? Technology, stupid. 

You can actually make the transaction go directly within the asset itself. So you engage with the ads, you interact with the purchase within the ad without ever leaving that same piece of content.

It effectively dilutes numerous clicks that you normally have to navigate through. The average of reduction clicks is about 75 percent.

With Playrcart, you can watch the trailer for a new Spider-man movie and buy tickets before it’s even completed. You can schedule a test drive in the Ford F-Series as you’re watching a professional drive it on a closed course. 

Consumers will now have the option to purchase something when their emotional response to an ad is at its peak. You can see an ad for a major event and as you’re riding that emotional wave you click and purchase tickets. As the ad concludes, you can emotionally conclude with it – satisfied. 

You can see Playrcart’s technology in action here

Playrcart is capitalizing on our instant gratification society, and they’re doing it with modesty and innovative advances in technology. 

We want to hit them instantly while you’ve got their attention.

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Crazy Things That Happened in 2021

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Although 2021 would probably go down in history as one of the craziest years in recent times, 2021 is looking like it’s catching up. Here are a few of the crazy things that happened this year:

Capitol Hill Riot (January)

Early January saw a massive riot happen at the US Capitol. Former President Trump was charged with incitement in his impeachment trial in the Senate. This resulted in a mob that was pro-Trump, breaking into the building. This forced members of Congress to evacuate and left five dead.

Battle of the Billionaires (January)

Elon Musk has surpassed Jeff Bezos to become the richest man in the world. This, thanks to the increase in Tesla’s share price giving him a net worth of more than $185 billion. Bezos was the holder of this title but went down with his $184 billion worth.

Trump Impeachment (January)

A call for Former President Trump’s impeachment happened twice this year. Some Democrats and members of the progressive group, The Squad, called for his impeachment. This, after his supporters stormed the US Capitol.

Frigid Weather in Texas (February)

Brutal winter storms ravaged Texas for more than seven days. It caused unprecedented devastation that claimed the lives of at least 26 people.

The Grammys Breaking Records (March)

Records were broken in this year’s Grammys, with Beyonce winning more awards than any in the award-giving body’s history. Along with Megan Thee Stallion, they became the first female artists to win best rap performance, breaking records. BTS also made Grammy history by being the first foreign act to perform solo and the first KPop group to be nominated.

The Free Britney Movement (April)

Pop icon Britney Spears has been under a conservatorship by her father since 2008. In April this year, the hashtag #freebritney gained traction as fans cried for the singer to be free from the legal binding. 

The Friends Reunion (May)

Not really a follow-up to the lives of the Friends character, but a reunion in which the main cast members reminisced about the good ol’ times. The fans were treated to a recreation of the set along with some table reads from scenes that were rehashed. 

Bitcoin Price Plunge (May)

After hitting a record high of $64,829 in mid-April, Bitcoin prices plunged to around $30,000 at one point. All this is in connection with Elon Musk’s Tesla’s suspension of purchase with the cryptocurrency, citing environmental concerns over the mining process.

The End for Keeping Up With The Kardashians (June)

The month of June saw the end of the reality TV show, Keeping Up With the Kardashians. After 20 seasons on the air, the show ends with a two-part reunion special. However, this isn’t the end for the Kardashians-Jenner, as they will star anew in a Hulu reality series later this year.

On another note, the year also saw the divorce of Kim Kardashian and Kanye West after six years of marriage.

All Eyes on Simone Biles (July)

The 2020 Tokyo Olympics was held in 2021 due to the pandemic. And on this one, all eyes were on Simone Biles as she has proven that she’s not superhuman after all. The celebrated gymnast withdrew from the team gymnastics finals citing the “twisties” and her efforts to focus on her mental health.

Facebook Name Change (October)

From Facebook to Meta, the rebranding was announced in October in an attempt to own the metaverse. The company says that the new name is reflective of their ambitions that go beyond being a social media platform. CEO Mark Zuckerberg considers the move as a nod to the metaverse, the concept of a three-dimensional version of the internet.

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