Amazon online shopping platform has been transforming lives to such an extent that it has propelled Jeff Bezos, the CEO, to be one of the richest people on earth. However, it has been falling short of satisfying all the needs of its users. According to a study by the investors.com, some users want to be able to buy Cryptocurrencies on Amazon. Additionally, the respondents of the research want to buy medical marijuana and prescription drugs also.
Investing.com has a sample size of 1,013 Amazon shoppers. These are both non-prime members and prime members to get a more representative view of the general shopper dynamics. The question was what product would they feel comfortable purchasing on the Amazon brand. Interestingly, 36.7% considered prescription drugs, 29.5% selected medical marijuana, 16% wanted virtual doctor services, while 12.7% of the respondents wanted to buy Cryptos on Amazon.
Other details of the survey outcome showed that Amazon users are enthusiastic about Amazon-branded items. Top on the list with a 72.9% preference is the Amazon computer. Health coverage, medical marijuana, and prescription drugs also feature in this category. Amazon brands private labels are growing popular by the day with items such as the iconic Lark & Ro for women and Mama Bear baby products recording sky-high sales. According to an Ascential report dated December 2018, customers will, however, have to be a little patient, as Amazon re-strategizes on private branding.
Increasing Cryptocurrency Demand
Although only 12.7% of the respondents indicated their wish for a Crypto trading service on Amazon, this still remains to be a big win for Cryptocurrencies as it even featured at all. This is because of the fact that Amazon is an e-commerce platform that does not support internet money services.
The implications for the study are that Jeff Bezos may rethink his business model and introduce a Cryptocurrency platform within Amazon. This would be very important as it could proffer reputation and trust on Digital Assets just because Amazon is a respectable brand and a safe one too.
The report supports this prediction as it says that Amazon is highly likely to rely on data and research to launch new products. However, the strategy of Amazon is to proceed with caution and start by pilot programs before launching a fully-integrated solution such as a Crypto trading option, in this case.
Users Want Amazon To Diversify
Further results show that 88% of the respondents want Amazon to delve into a different industry. These new ventures include an in-house delivery service by 25%, pharmaceuticals by 19%, artificial intelligence by 13% and healthcare by 9%.
Since Amazon offers its Web services already, delving in the AI technology could lay a foundation for launching DLT and Cryptos to serve the surging market niche.
Since the study also shows that users will most likely stick with Amazon even in turbulent times, the network could be holding the key to stabilizing Cryptos and driving the mass adoption agenda. With $120 spent per month on average by each user, Amazon should be the best option that Cryptocurrency stakeholders should be lobbying for a partnership.