Jeff Bezos’ eerily accurate 1999 prediction on future of shopping resurfaces

With a net worth of more than £144billion, Jeff Bezos is believed to be the richest person on the planet.

His company Amazon has gone from strength to strength since it started back in 1994 and even a pandemic hasn't stopped its success.

Mr Bezos actually made more money than anyone in history on a single day as the killer coronavirus shut businesses across the world.

But a clip has now resurfaced from 1999 showing perhaps why there’s no surprise the 56-year-old has made Amazon so successful.

The interview showed him making an incredibly accurate prediction of the future of online shopping.

“If you focus obsessively enough on customer experience, selection, ease of use, low prices, more information to make purchase decisions with,” he said.

“If you can give customers all that plus great customer service – then you have a good chance [of succeeding].”

Such elements are what have made online shopping so popular in recent years.

Jeff also spoke in the interview about how his company had distribution centres around the US, which allowed for products to be delivered in a “very timely way”.

Next day delivery is now one of the most popular tools of online shopping and the business mogul clearly recognised that 21 years ago.

He then went on to hint at the potential problems that physical shops will face in the future – something again that has proven true following the demise of the high street.

“When we open distribution centres, we’re opening places that may have 30 cents (23p) a square foot for a lease, instead of paying $7 (5.44) per square foot which may happen in a high retail centre,” he said.

Source: Read Full Article