Amazon.com, Inc. (NASDAQ:AMZN) stock gained about four percent and closed at $784.93 in the last trading session. Amazon stock had suffered earlier on account of its plans to increase spending on its fulfillment centers and video content.
However, nothing dampens the bullish sentiment for AMZN stock for long, as the e-commerce behemoth is adept at introducing new products and services to delight its customers and strengthen its ecosystem.
The “Alexa Skills” marketplace is one such development. Amazon has introduced a detail page for every Alexa skill, where customers can take actions like enabling or disabling skills and linking their accounts. This shopping-for-skills concept is great for customers as well as AMZN stock.
The Alexa Skills marketplace lists more than 3,700 skills, in over 20 categories, including business and finance, communication, education, food and drink, and weather. Amazon’s David Isbitski, the Chief Evangelist for Alexa and Echo, explains in a blog post that these detail pages improve discovery, so a customer can quickly find skills on Amazon and enable developers to link customers directly to their skills with a single click. (Source: “Introducing Detail Pages on Amazon.com to Increase Discovery and Use for Your Alexa Skills,” Amazon.com, Inc., November 4, 2016.)
Isbitski says this is the first time the company has offered a pre-login discovery experience for Alexa skills. Before now, customers needed to log into the “Alexa” app on their mobile devices or computer browsers. This is also good for developers, because they can improve organic search-engine discovery by optimizing skill detail pages. These detail pages introduced by Amazon.com, Inc. are likely to be received well by customers. Given the high market share of the “Amazon Echo,” this bodes well for AMZN stock.
However, Amazon Echo faces competition from “Google Home,” by Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL). Google’s smart voice-activated speaker was released last week at a price of $129.00. Initial reviews have suggested that Google Home is good, but not as good as Amazon Echo. Amazon Echo has a clear lead in this market, although Google Home may catch up.
There is going to be a close battle for these giants in the voice-activated speaker market. Amazon’s growth in e-commerce, however, as well as its growth in cloud services, is likely to keep its online dominance intact. Amazon’s ability to enter and grow in new markets is unmatched, and its strengthening ecosystem should further buoy AMZN stock.