Question
Jeff Bezos's strategy for Amazon revolutionized the e-commerce industry by introducing a virtual store that offered a larger inventory than most physical stores at lower fixed prices. This concept was well-received by consumers, leading to Amazon expanding its product range to include DVDs, electronics, toys, software, and other goods. This strategy has influenced the e-commerce industry by setting a new standard for online retail, demonstrating the potential for a wide variety of products to be sold online at competitive prices.
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Amazon's founder, Jeff Bezos, started a virtual store offering a larger inventory than most brick-and-mortar bookstores at lower fixed prices in 1995. Soon, after witnessing some success, Bezos realized that the concept will be appreciated by consumers looking to buy other products; so Amazon started to offer DVDs, electronics, toys, software and other goods for sale, Advertising Week 360 reports.
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