What Happened
Earlier this week, Amazon unveiled Launchpad, a specialty store on its main website that aims to help startups, specifically those with innovative, consumer-facing hardware and physical goods, “launch, market, and distribute” new products. Similar to existing platforms like Product Hunt or Shopify, Launchpad marks Amazon’s first big move to pursue a symbiotic partnership with new product companies, in which the startups gain a strong marketer and distributor for their products, while Amazon gets a share of the innovative sheen, and, of course, the profits.
What Brands Should Do
Brands in the innovation space, especially those that are seeking scale, should consider this new platform offered by the ecommerce giant. Meanwhile, consumer gadget retailers like Best Buy and Brookstone need to take relevant measures to address the potential threats Launchpad could introduce to the market.
Source: TechCrunch
Head image taken from Amazon Launchpad webpage