Amazon Obliterates Rivals On Black Friday
Prime Cut: Amazon absolutely, unequivocally dominated e-commerce over Thanksgiving and Black Friday, Hitwise reported, putting it on track to win almost half of all online sales this holiday season.
TWICE Take: Ah, but the data also revealed Amazon’s soft underbelly — conversions — as the e-tailer trailed Old Navy, LLBean and even Shutterfly in nailing the sale.
The Hundred-Billion-Dollar Man
Prime Cut: That’s billion with a “b,” after Amazon shares rose more than 2 percent in anticipation of its Black Friday bounty, placing founder/CEO Jeff Bezos in the 12-figure-fortune club.
TWICE Take: The share hike was worth $2.4 billion to Bezos, giving him a net worth of $100.3 billion and securing his place atop the Bloomberg Billionaires Index. The question is: What will he do with his war chest?
Cooking Up A Black Friday Hit
Prime Cut: According to price-tracking site Wikibuy, the Instant Pot 7-in-1 cooker was the fourth best-selling item on Amazon during Black Friday, coming in ahead of a genetic testing service and behind only Echo Dot, Fire TV Stick and the TP-Link smart plug.
TWICE Take: The rabidly popular device, which variously serves as a pressure cooker, slow cooker, rice cooker, yogurt maker, sauté/browning pan, steamer and warming pot, got its start on Amazon in 2010, where it has since garnered more than 39,000 reviews — with most of them read by inventor Robert Wang.
Let’s Get Physical
Prime Cut: Physical storefronts, once seen as the bane of retail, have not only become de rigueur but are now considered essential in establishing brand awareness and doing battle with Amazon.
TWICE Take: Brick-and-mortar’s renaissance has not been lost on digital leaders like Amazon and Google, which are hanging “open” signs in showrooms across the country.
Walmart Looming In Amazon’s Rear View
Prime Cut: After a decade of digital disorganization, Walmart is finally getting its online act together by buying up e-tailers and letting Jet.com founder Marc Lore loose.
TWICE Take: The massive investments are beginning to pay off, with Walmart’s digital sales up a stunning 50 percent last quarter, giving Amazon investors cause for concern.
Amazon Quote Of The Week
“I don’t want to be 80 years old and in a quiet moment of reflection thinking back over my life and cataloging a bunch of major regrets.” — Jeff Bezos, on his decision to quit his job at age 30 and start his own e-commerce business