Amazon is now actively seeking a way to obliterate challenges associated with online shopping, particularly in the fashion industry.
Shares of American e-commerce giant Amazon.com Inc (NASDAQ: AMZN) were up 0.55% in Wednesday’s pre-market to trade around $3,182.50. AMZN shares closed yesterday trading at $3,165, having jumped 0.26% during the day. The tweak on Wednesday is attributed to news that the company is today launching a new service for its customers to create custom clothing dubbed ‘Made for You’.
Amazon is seeking a way to obliterate challenges associated with online shopping, particularly in the fashion industry. As a result, not only will the company widen its customer audience but also revolutionize the fashion industry at large.
Amazon stocks have been one of the best performers in 2020, especially at the height of the coronavirus pandemic. According to the market data provided by MarketWatch, Amazon stocks have rallied approximately 71.29% year-to-date. However, they have moderated in the past three months as they are up approximately 2.83%.
Notably, the company has a reported valuation of approximately $1.58 trillion with 501.75 million outstanding shares. The huge cash reserve gives the company a better chance of investing in different markets especially those that are emerging during the pandemic.
Amazon’s huge market control has made it in loggerheads with different global regulators based on anti-competitive practices. However, it has not deterred the company from pursuing different opportunities, thus the big confidence from its shareholders.
‘Made for You’ Amazon Latest Service
According to news outlet TechCrunch, Amazon Fashion’s Made for You service requires users to provide the company with their height, weight, body style and two photos of themselves to get measured for their custom fit.
Mind you, Made for You is different from other companies that utilize mobile technology to scan and measure customers’ body details. It is after the customers provide their body measurements that they get a chance to choose from a wide variety of the quality offered by the company. Some of the selections include eight colorways, preferred fabric and sleeve.
Notably, there are two different types of fabrics offered by the company; medium-weight 100% Pima Cotton shirt and the lightweight 56% Pima Cotton, 38% Modal, and 6% Elastane tri-blend.
For the customized shirts, Amazon has put a price tag of $25, and are currently available to all United States customers. To start with, Amazon has partnered with different influencers including Blake Scott, Caralyn Mirand and Sai de Silva to taunt on the new service on their wide fashion Instagram page.
On the collected customers’ data, Amazon has indicated that it is securely stored and the users have the option to delete it permanently from their home page.
A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”
