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About Zappos The annual sales of Zappos was $800 million, over ¼ of E-shoe retail market, whose market size is over $3 billions It is so famous and popular that it is known as “Amazon” in this industry, which is the leader of E-shopping business. Diversified the products, such sunglasses and purse, etc. Open the first direct store in Las Vegas in 2007 Aimed to reach a $1 billion sales in 2010.
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Zappo’s Core Value Deliver WOW Through Service Embrace and Drive Change Create Fun and A Little Weirdness Be Adventurous, Creative, and Open-Minded Pursue Growth and Learning Build Open and Honest Relationships With Communication Build a Positive Team and Family Spirit Do More With Less Be Passionate and Determined Be Humble
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History of Zappos 1999, Xie met Nick Swinmurn and discussed the possibility of running E-Shoe Store. E-shopping Market size of $40 billions, and mail-order exceeds $2 billions Xie first invest 1 million on Swinmurn’s online shoe store, Shoe Site, which is changed name to Zappos soon. (The name Zappos is derived from the Spanish word zapatos, meaning shoes.) Later, another 10 million investment is added Zappos by Xie, who became the CEO of Zappos in 2000.
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New Products on Zappos Zappos has expanded from shoes to handbags and purses, and has launched a second line of high-end shoes called Zappos Couture .
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The Founder of Zappos Founder: Jiahua Xie, A Chinese Guy born in Illinois: Graduated from Harvard University Major in Computer Technology, and won couple of champions Starts running a pizza business while in school Made his first bucket of gold of founding LinkEchange, an internet advertising company
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Problems Difficulties at the beginning: Insufficient Orders 1/10 of orders are unavailable, either out of stock or delivered wrong shoes Kept on losing money and faced the threat of bankrupt Zappos did "almost nothing" in sales for 1999 Xie took certain of actions to improve the Zappos’s performance in both hardware and software.
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Hardware To help customers easy shopping: every pair of shoes in inventory of total 58,000 pairs is pictured at 8 different angles. To ensure fast delivery, Zappos located its warehouses next to UPS’ airports and make them work 24/7.
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Software Free return No successful examples before in E-shoe retailing because it’s too easy to buy the wrong shoes. Need to relief customers’ discomposure as well as minimize the cost. Xie designed E-mail system for Zappos to automatically reply custpomers’ e-mail of return requests.
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