Jeff Bezos launched his online retail shop in 1995. Within two years, it was the market’s leading bookstore. It expanded from there, serving 20 million customers by 2000.
Through it all, Bezos has remained laser-focused on customer experience. Soon after Amazon launched, it started prompting customers to leave product reviews, a process that has helped shape retail on the internet. Although negative reviews cost Amazon short-term sales, helping customers choose better products ultimately benefited the company.
No matter how satisfied they may be, customers always want something better. Bezos was confident that if he continued improving customer experience, lowering prices, and increasing product selection, Amazon’s value would increase. And, boy, was he right: the company is now worth over $1 trillion.
For more on how Amazon rose to the top, check out our Instaread on Invent and Wander.