- By Holly Shively Staff Writer
Amazon became the second public company to reach a valuation of $1 trillion. While it isn’t at that level now, analysts expect the company to fluctuate above and below that line for the next several days.
Apple is the only other company to ever reach the $1 trillion valuation. But Amazon did so in 24 years and has grown rapidly in the last year. In 2018 alone, stocks increased 75 percent.
Amazon has introduced several initiatives this year that have led to success, shaking up industries that used to have stable brick-and-mortar markets. So far this year, Elder-Beerman and Toys “R” Us have closed down all stores. Sears has also announced back-to-back rounds of shutterings, including the store at the Dayton Mall.
Traditional department stores are struggling to keep up as consumer shopping habits change, largely due to a larger focus on ecommerce. Amazon has no plans of slowing down, with 17 tech hubs around the country to continue developing shopping options.
Grocery stores also have suffered, racing to offer the best pickup and delivery options after Amazon’s merger with Whole Foods first shook the grocery industry last summer.
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