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how costco's founder helped revive amazon's pricing strategy and growth

In 2001, Jeff Bezos sought advice from Jim Sinegal, founder of Costco, during a pivotal meeting that influenced Amazon's pricing strategy. Sinegal emphasized the importance of low prices and value, leading Bezos to implement significant discounts that helped Amazon achieve its first profitable quarter later that year. This approach laid the groundwork for Amazon Prime, which mirrors Costco's membership model by offering substantial value to customers.
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United States Dollar Amazon.com, Inc. Costco Barnes & Noble Education, Inc. USA Brad Stone Jeff Bezos Fox News Jim Sinegal New York Times Show more
Finance & Economy, News Article
15:15 17.11.2024
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