The Amazon Economy

Amazon.com Inc, the No. 1 Internet retailer, is investing millions of dollars to open fulfillment centers across the U.S. Earlier this year, Amazon announced the opening of the Spartanburg, South Carolina fulfillment center, the second fulfillment center in the state. Amazon said it will spend $50 million on the new warehouse and employ hundreds of full-time workers. Amazon is one of many companies that has kept the SC economy strong.

Amazon fulfillment centers are secure facilities used to process merchant orders. The centers include 24-hour security staff, order tracking throughout the facility, and high-value secure cage storage. Amazon has ability to pay fulfillment center employees about 30 percent more than retail store employees.

Recently Amazon announced the launch of its new Career Choice Program – an agreement to pay tuition for employees in the fulfillment centers, as long as they use the money to pay for courses in a select number of areas.

So how did Amazon become the No. 1 Internet retailer? Amazon was one of the few companies that managed to survive the dot-com bubble without losing control.
What started out as an online bookstore that turned into something much, much more. Today, Amazon sells books and everything else.

Jeff Bezos, the CEO and one of the founders at Amazon, graduated from Princeton, and quickly moved into a successful career on Wall Street. In 1994, he notice the potential of the Internet and abandoned his well-paying job to launch Amazon.

The website launched and sold books in 50 states and 45 countries. Within two months the company’s sales topped $20,000 a week. As Amazon’s growth accelerated, skeptics expected brick-and-mortar retailers like Borders and Barnes & Noble to step in, but that didn’t happen. Amazon succeeded largely because its ability quickly embraced e-commerce innovations that improved its customer experience.

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