This is possibly Amazon's only real failure (Jeff has learnt to test small first and fail small since then). They couldn't be further away from each other.īut how did Amazon do with this venture? It failed, and Amazon also almost went under in 1999. On my Business Evolution Map, these two sectors are actually on opposite sides of the map. He assumed that because they were both about books they were neighbouring industry sectors. He made the association between book retail and book publishing. But you'd be wrong.Ī major risk when creating or assessing strategy is assuming that association of words implies association of action.Īmazon made this mistake backing 1999 when Jeff Bezos bought Weathervane, a publisher. If you take the article below at face value it would suggest that Amazon are already in Financial Services and are now pushing further into insurance. Thanks Peter Gould for your updated insights -> #economy #sales #opportunity #media #food #culture #muslim #dei #ramadan #saudiarabia #egyptīreaking: The Map predicts failure for Amazon's latest venture. Support the Eid celebration, support leave requests and note that Eid doesn’t start on a fixed calendar date as it's determined by moon sighting Host a company Iftar as an opportunity to build camaraderieĥ. Establish Etiquette with a respectful office culture when eating around fasting MuslimsĤ. Offer Flexiblilty with working hours for those observingģ. Workplace mode in case #diversityandinclusion teams want to planġ. Islamic finance assets are expected to reach $4.9 trillion by 2025 – up from $2.88 trillion in 2019 Food spending is expected to reach $1.67 trillion by 2025, with modest fashion expected to reach $375 billion, pharmaceuticals $129 billion, cosmetics $93 billion, and travel $189 billionģ. Spent $2+ trillion in 2021 across the food, pharmaceutical, cosmetics, fashion, travel and media/recreation sectors and expected to grow to $2.8 trillion by 2025.Ģ. Those targeting Muslims audiences for sales - State of the Global Islamic Economy Report 2022 by DinarStandard, shared the economic context of Muslims as buyers:ġ. Snapcart's 2021 showed similar numbers in Indonesia, with 46% of consumers spending more Statista showed MENA's spendingduring Ramadan was $6.2 billion in 2022 – up from $4.2 billion in 2021, aligned with Think with Google's pre-pandemic study (2018) stating consumer spend in the #uae, #saudiarabia and #egypt increases by 53% overall during Ramadan. Read The Ramadan Effect as we start in March -> SPEND IS UP, PPL ONLINE MORE, WE'RE FASTING
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