Amazon CEO and founder Jeff Bezos said all the brands are at risk from losing their branded image after he warned that brands could be “poisoned” by digital disruption.
The CEO of the e-commerce giant told the New York Times’ business section that “all the branded products” are “absolutely at risk” of losing control of their names, and that “everybody” will lose their brand as consumers adopt “a new digital identity”.
“I think that’s the big story for the rest of this year, is that every brand, no matter how much you might have a brand, or whether it’s your own or somebody else’s brand, you’re in danger of losing it,” Mr Bezos said.
“So all the branded things are at a very low risk.”
The New York-based company operates a number of online shopping sites, including Amazon.com, and also owns the ecommerce giant Jet.com.
But in his comments to the business section of The Times, Mr Bezos went on to say that “we have been making a lot of money in terms of revenue and profitability”.
“But if we can’t continue to generate a high quality product experience, we’re going to have to cut back and start from scratch,” he said.
Mr Bezos’ comments came in response to a New York Post story on Wednesday in which Mr Bezos warned that “the brands of our competitors are in a much worse place than we are”.
“The companies that are doing really well and the companies that will be hurt the most are the brands of competitors,” he warned.
“I know there’s a lot more to it, but the bottom line is that they are being poisoned.”
The brands are the most vulnerable, and I think it’s going to be really important that we not let them be poisoned.
“Mr Bezos also said he was “very concerned” by the potential impact that “a lot of the digital marketing techniques” being used to try to “override” the digital economy would have on brands.”
We are in the midst of an enormous digital transformation that’s going on right now, and you have to understand that some of these digital techniques are being used by people to override this change,” he added.
Mr Andrews said that the company was “doing everything we can to stay ahead of the game” and to “make sure that we don’t overreact to this disruption”.”
We’re very conscious of what we do, we do everything we’re asked to do,” he told the paper.”
It’s not something we’ve done in the past.
It’s something we have to do again.
“The company, which is owned by Amazon founder Jeff Sanders, has seen sales grow by nearly 50 per cent since it was founded in 2002.