In 2017, Amazon spent more on research and development than any other company in the US — $22.6 billion — which is more than Facebook and Apple combined. Their expenditures include developing programs like Amazon Go and Prime Wardrobe while expanding Alexa, along with experimenting with not-so-popular technologies like Amazon Spark. A large portion of their investment is dedicated to amplifying their dominance of e-commerce market share.
Brands that are not being proactive about Amazon are going to have a tough time hopping on what is now a very fast-moving train, especially as the space continues to fill. As Amazon continues to invest heavily in CPG, grocery, and apparel markets, brands that operate within these spaces have a unique opportunity to reach customers, as well as a great challenge — competing with Amazon’s private label offerings.
This article is part of a series of daily posts called Quick Bites.