Amazon: 1 Step Closer to World Dominationhttp://www.fool.com/investing/general/2012/11/09/amazon-one-step-closer-to-world-domination.aspx Tamara Rutter
November 9, 2012
Is there anything that Amazon.com (Nasdaq: AMZN ) can't sell online? It doesn't seem that way. On Thursday the world's largest Web retailer pulled back the curtain on its latest business venture: a wine marketplace. Now shoppers can buy everything from ball valves, diapers, and centrifuges to rare books and wine at Amazon.com.
Amazon's entry into the wine business could be hugely beneficial for the wine industry given the e-tailer's scale and accessibility. According to Wine.com CEO Rich Bergsund, "Only about 2% of wine purchases are currently made via the Internet." However, that could change now that Amazon is bringing more than 100 million unique monthly visitors to the table. This should be particularly helpful for smaller wineries that would otherwise not have the resources to reach audiences of that size.