The internet hadn’t revolutionized shopping 27 years ago as some had predicted, but even though Amazon had yet to turn a profit, Jeff Bezos was still confident in its eventual success.
Earlier this year, Amazon reported $143.3 billion in revenue for the first quarter of 2024. But 27 years ago, the BBC wondered when predictions that the internet revolutionizing shopping would come true, speaking to local bakers, booksellers, and even Jeff Bezos to find out. The Money Programme report, which originally aired in November of 1997, was recently added to the BBC Archive YouTube Channel.
Those included a small bakery in the UK that was enjoying several thousands of dollars in sales every year selling its baked goods internationally, and the British supermarket chain Sainsbury’s that was having middling success selling groceries using the internet, phones, and even faxes. Blythe also spoke with Jeff Bezos who had launched Amazon.com as an online book retailer just two years prior. Bezos bragged that Amazon’s catalog of over 2.
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