Amazon.com, Inc. (NASDAQ:AMZN) is going deeper into digital but also doing the same into physical when it comes to books, Jon Fortt said in a discussion about the electronic commerce giant on CNBC.
The discussion about Amazon.com, Inc. (NASDAQ:AMZN) and its book market came as the show discussed what was the company’s first ever sale. It comes as no surprise that it was a book, hence the discussion.
“What was the company’s first sale? It was this book right her: Computer Models of the Fundamental Mechanisms of thought. And if you didn’t gather from that title, that book was bought by a computer scientist. [It] looks like a complicated book. The guy was John Wainwright. He was famous in his own right even before he made that first click. Amazon may have started out selling books but these days, it’s all about digital. Printed books now account for less than 10% of the company’s revenue. And now, [the company has made]the launch of its Kindle Unlimited service in which users can download all the eBooks they want for just $10 per month. The ecommerce capabilities of the Fire Phone [and]the beta launch of Amazon’s wallet app this week [are]all part of the continuing transition to digital from physical.”
According to Fort, however, Amazon.com, Inc. (NASDAQ:AMZN) is not just moving into digital, it is also strengthening its hold into the market for physical books. He said that this is interesting.
“I don’t really remember what my first [Amazon] purchase was but it’s interesting, they are going deeper into digital but they are also going deeper into physical which I think is probably their competitive advantage. [It is] the logistics of moving stuff from one place to another in a short period of time. When there is food involved, you have to move it even faster and more carefully. That, I think, is a big deal for the future of Amazon.”
Watch the video below where the panel also discussed what their first purchases on Amazon.com, Inc. (NASDAQ:AMZN) were.