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It seems Amazon could become another US company to reach a market value of $1 trillion, but if you ask Daniel Morgan, a manager of Synovus Trust, an investment company and an Amazon shareholder, this digital trade giant has a lot more room for progress and growth, writes Business Insider.
Morgan points out that the world’s largest e-commerce platform is setting up a new business venture in the advertising industry, which is already bringing profits to the company from the ‘shadows’, and if good figures continue, next year the company could make double profits. According to Morgan, this American giant has the potential to become the third largest player in the world of digital advertising and could rub shoulders with the giants like Google and Facebook.
In addition, Morgan points out that regardless of the fact that they are already recording $2.2 billion in profit from advertising, most investors are still focused on the online store platform, and don’t take the advertising future seriously. But according to him, this is exactly where Amazon’s future lies, and here’s why:
They own data crucial for advertisers
Unlike Google that possesses data on internet seach history, and Facebook that’s informed about the interests of its users, Amazon possesses data on customer habits.
They can compete with ‘big players’
Amazon has enough financial resources at their disposal to rub shoulders with big advertising giants.
It has its own streaming platform
Their streaming service has more than one million users who daily watch different video content. Thanks to that, they know exactly who their users are, what they watch, and what interests them.
It is the leader in the market of smart speakers
Amazon Echo speakers and Alexa voice assistant are currently in over one million homes, and their technology is being used by many other companies. That ability to reach mass consumers, combined with the database they have on their shopping habits, can create a great advantage for distribution of advertising content through Alexa.
“All this is something that many people don’t think about, because it all happens ‘below the radar’, but if they decide for a venture in the advertising sector, it could mean another gold mine for them,” Morgan said.