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Transcript of Zappos
Headquarters in Henderson, Nevada
Nick Swinmum, founder Tony Hsieh, CEO Chris Nielsen, CFO
Owned by Amazon.com
"back in 2003, we thought of ourselves as a shoe company that offered great service. Today, we really think of the Zappos brand as about great service, and we just happen to sell shoes."
Online shoe and apparel company based in Henderson, Nevada
Founded by Nick Swinmum in 1999
Couldn’t find a pair of brown Airwalks at local mall
Approached Tony Hsieh and Alfred Lin ($500,000 investment)
Original domain name was shoesite.com
Change to zappos.com to not limit self to only shoewear Introduction 10 year goal for company was to achieve $1 billion in sales and be on Forbes list of best companies to work for
Achieved $1 billion in sales in 2008
Made #23 on Forbes list in 2009
Expanded inventory to include handbags, eyewear, clothing, watches, and kids’ merchandise
July 2009- Announcement that Amazon.com has aquired Zappos in a deal worth $1.2 billion
Since its founding in 1999, Zappos has become the largest online shoe store
2013 moving company headquarters to Las Vegas
According to Hsieh, "I want to be in an area where everyone feels like they can hang out all the time and where there’s not a huge distinction between working and playing." Zappos Unique Culture Page
Zappos Family like Culture/Core Values
Experience Community Involvement Easy to navigate website
Call/contact center representatives
Fast & Free shipping
Loyal to their customers External Marketing
(Making the promise) Transparency
Scanning items in and out
Kiva Mobile Fulfillment System Interactive Marketing
(Delivering the promise) Work place environment
Employees set the tone
Pipeline process- Upper management-
Everyone is on the same playing field
- Science of Happiness Internal Marketing
(Enabling the promise) Infrastructure & technologies
Benefits from cooperation
Standardized sales & large-scale production
Ownership and finances (legal aspects)
Change in recruiting strategy? Challenges & changes in strategy after
the acquisition by Amazon Yes, it can keep its strategy
Keep 3 Cs - Core values
competitive advantage Can the company continue
with the same strategy?
Why or why not? Innovation
Emphasis on customer service
Great shipping rates and service
Strong brand name and company culture Strengths Not many visible real estate/locations
No price comparison Weaknesses Growth online is infinite
Takeovers of smaller
retail sites/companies Opportunities External changes such as policies and taxes
job loss, products become irrelevant or expensive to supply
Acquisition by larger companies Threats They began to focus on service, “Zappos focused on delivering outstanding customer service to make the online shopping experience as easy and as close to a visit to a retail store as possible.”
In 2000 Zappos began keeping inventory again stocking 400,000 pairs of shoes.
Their companies cultures was like no other, they attracted fun, positive, and outgoing workers.
Zappos was successful because they made the shopping experience easier. They understood what the customer wanted and how to deliver it effectively. Why was Zappos so successful in its first 10 years from 1999 to 2009? From 2000 to 2008 their gross sales grew from 1.6 million to 1 billion
Company Culture, by creating a culture focused on service and fun Zappos paved the way for success
Customer Service, having outstanding service is a characteristic that is hard to copy by competitors, which is one reason why they have so much success.
Clothing, In 2006 Zappos made the decision to grow their selection by offering clothing. What evidence is presented in the case of the company’s success? Attention to the customer and their companies culture
“ We are a service company that happens to sell shoes. And clothing. And handbags. And accessories. And eventually anything and everything” What general, high-level strategies can
you identify that lead to their success?