Amazon Continues Sales Growth Despite Obstacles

 

February 9, 2023

Amazon has reported a 9 percent net sales increase in the fourth quarter, which would have been 12 percent if not for the adverse impact of year-over-year changes in foreign exchange rates during the last three months of 2022.

Amazon's continued success depends on its great customer service, fast delivery, and innovation," said Mitch Gould, Founder and CEO of Nutritional Products International, a global brand management firm based in Boca Raton, Fl. Amazon keeps adding to its equation.

Jassy pointed out Amazon's innovations in 'customer service, such as streaming entertainment, customer-first healthcare, broadband satellite connectivity for communities globally' for his optimistic outlook, Gould added.

One of Amazon's recent endeavors is the launch of Amazon Clinic, which provides a message-based virtual health service that delivers convenient, personalized, affordable care for more than 20 common conditions.

Gould worked with Amazon when the online giant first added its health, wellness, and sports nutrition category.

I worked with Joseph Mies, who at that time was the president of Muscle Foods USA and is now NPI's National Accounts Manager, to add major health, wellness, and sports nutrition products to Amazon's new virtual shelves.

Obviously, most companies can't do everything that Amazon does, but they can emphasize quality control and the customer experience, Gould said. Customer service, which only captures one interaction, is different from customer experience, which is the entire interaction between the company and the consumer.

More than 65 percent of consumers want more from customer service than three-to-five years ago, Gould said. Almost 75 percent of consumers say they spend more money when they get superior customer service.

 

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