In the time it is taking you to read this sentence, approximately 100 products were just sold on Amazon – and that’s with a conservative calculation of 35 orders coming into the e-commerce behemoth every second.
Not bad for a brand that started as a bookseller out of a guy’s garage. But it could be bad for you—if your brand is missing out on opportunities due to the massive hold Amazon has on today’s consumers.
We’re all used to Black Friday, and (more recently) Cyber Monday, but it now looks like Prime Day is set to be another date in the shopping frenzy calendar. Amazon’s third annual Prime Day is July 11th (though deals are already underway – check them out here!), and early projections show that it could generate as much as $1 billion in revenue for the behemoth retailer. Clearly Amazon is doing something right.
When you think of cognitive technology, what comes to mind? Likely one of those funky virtual reality headsets or – if you’re more of a skeptic – an army of robots rebelling to take over all of humanity. But cognitive technology is about a lot more than futuristic-looking toys and speculation about the future, specifically when you consider its various applications in the manufacturing and logistics industries.
It seems today that every major automotive company is focused on developing autonomous vehicles. From Uber working to develop a fleet of driverless taxis to automakers like Toyota and Mercedes leaking plans for their own autonomous cars, the world has gone crazy over driverless vehicles.
Today’s shopping experience is nearly unrecognizable to that of just twenty years ago. In the past two decades, consumers have shifted where, when, why and how they shop. Gone are the days of shopping exclusively in brick-and-mortar stores. Shopping today no longer requires you to leave your house, or even your couch, with nearly 8 out of 10 Americans reporting regularly shopping online or from their mobile device.
It took 46 years for a quarter of the United States population to use electricity. It only took seven years to reach the same usage of the internet.
Why is that?
We’ve all seen (or heard) the TV ads. The one where an Amazon Alexa turns on the sprinklers, or Apple’s Siri tells a would-be chef what he can substitute for butter, or the one where a Burger King employee intentionally sets off Google devices everywhere by asking, “OK Google, what is the Whopper burger?”
We live in a connected world, largely due to the Internet of Things, or IoT for short, but there is, even more, innovation on the horizon due to the emergence of IoX ̶ the Internet of Everything.
Our world is changing at a rapid rate. Between 1900 and 2000, the increase in world population was three times greater than the entire previous history of humanity – an increase from 1.5 to 6.1 billion in just 100 years. And this population boom doesn’t seem to be slowing down much with 9.5 billion people projected to be living on Earth by 2050.
Business moves fast. Very fast. Supply chains need to move even faster. But a siloed supply chain will slow down your company, frustrate your customers, and ultimately waste resources and lose business.
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