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You're transported back in time to 1994. How do you outcompete Amazon? (alien.top)

submitted 1 year ago by IndolentInsolent@alien.top to c/entrepreneur@indiehackers.space

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You're transported back to 1994 with all your current knowledge and $50,000. Your goal is to create the world's biggest online shopping company.

How do you go about it?

As a further thought experiment, if you travelled back to 1960 with all your current knowledge and the goal of becoming the richest person on earth, what businesses would you start?

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[–] smellyeggs@alien.top 1 points 1 year ago

I think the most important lesson we learned from Bezos is:

The customers' desire for convenience and good customer service is possibly the most important factor

I remember my "aha" moment some 10 years ago... I had an issue with an order and Amazon sent a replacement free of charge, told me to keep both. Decided to always use Amazon from then on.

We know that Amazon doesn't always have the best prices anymore, but we use it because it's reliable time and time again, and constantly finds ways to maintain that "customer first" approach through incremental improvements.

I live in NYC, and I can walk down the street to multiple locations to drop off returns free of charge. Why would I buy direct from other companies? I recently did, and I have to print a label, pay for shipping, and pay a restock fee. It's hard to believe any company can survive with that type of friction.