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On today’s episode of the Tech Talk Tuesday podcast, Ryan McQueeney recaps a historic day for Amazon (AMZN - Free Report) which saw the e-commerce behemoth reach the $1 trillion market cap threshold and launch Hindi language support in India.
Remember to subscribe and leave a rating on ApplePodcasts if you enjoy the show!
Amazon officially joined Apple on the $1 trillion list in late morning trading Tuesday, surpassing the necessary $2.050.27 per share mark in route to the momentous occasion. CEO Jeff Bezos’ wealth now exceeds $166 billion, and Amazon managed to beat competitors like Google (GOOGL - Free Report) and Microsoft (MSFT - Free Report) to the honor.
And earlier Tuesday—perhaps acting as a catalyst for the stock’s rally—Amazon unveiled a new Hindi language version of its website to the roughly half a billion people of India who speak the language, according toThe New York Times.
India is the world’s fastest-growing market of internet users, and Amazon has already done a great job making headway. The U.S. online retail king is the country’s second-largest e-commerce website and has amassed 150 million registered users there. But if Amazon wants to expand in India, it will be need to attract less-educated customers and those who might be unfamiliar with the brand already.
“The next 100 million customers will have to be in the vernacular language… The level of trust increases when they see something in their own language,” Kishore Thota, director of customer experience and marketing for Amazon India, told The Times.
Amazon’s decision to launch Hindi language services cost the company untold dollars and about two years of time. Simply passing the English site through a translation algorithm resulted in gibberish, so Amazon hired native speakers to translate key sections of its site and built out its own translating code.
But Amazon’s investment in Hindi might help it take the next step in India, where it now goes toe to toe with a familiar foe: Walmart (WMT - Free Report) .
Through its investment in Flipkart, an Indian e-commerce behemoth, Walmart has found itself right at the top of the online retail pecking order in the country, and just as they have here in the U.S., Amazon and Walmart will likely go tit for tat in their efforts to joust for positioning.
But how big is the pie that the two companies are fighting for? Will Indian shoppers even utilize the Hindi platform? What might Amazon or Walmart do in India next?
Check out the show to hear Ryan’s answers to these questions, and more!
As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcasts, and remember to subscribe and leave us a rating!
As always, thanks for listening to the Zacks Tech Talk Tuesday Podcast; we will see you next time!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Amazon Launches Hindi Website, Tops $1 Trillion
On today’s episode of the Tech Talk Tuesday podcast, Ryan McQueeney recaps a historic day for Amazon (AMZN - Free Report) which saw the e-commerce behemoth reach the $1 trillion market cap threshold and launch Hindi language support in India.
Remember to subscribe and leave a rating on ApplePodcasts if you enjoy the show!
Amazon officially joined Apple on the $1 trillion list in late morning trading Tuesday, surpassing the necessary $2.050.27 per share mark in route to the momentous occasion. CEO Jeff Bezos’ wealth now exceeds $166 billion, and Amazon managed to beat competitors like Google (GOOGL - Free Report) and Microsoft (MSFT - Free Report) to the honor.
And earlier Tuesday—perhaps acting as a catalyst for the stock’s rally—Amazon unveiled a new Hindi language version of its website to the roughly half a billion people of India who speak the language, according to The New York Times.
India is the world’s fastest-growing market of internet users, and Amazon has already done a great job making headway. The U.S. online retail king is the country’s second-largest e-commerce website and has amassed 150 million registered users there. But if Amazon wants to expand in India, it will be need to attract less-educated customers and those who might be unfamiliar with the brand already.
“The next 100 million customers will have to be in the vernacular language… The level of trust increases when they see something in their own language,” Kishore Thota, director of customer experience and marketing for Amazon India, told The Times.
Amazon’s decision to launch Hindi language services cost the company untold dollars and about two years of time. Simply passing the English site through a translation algorithm resulted in gibberish, so Amazon hired native speakers to translate key sections of its site and built out its own translating code.
But Amazon’s investment in Hindi might help it take the next step in India, where it now goes toe to toe with a familiar foe: Walmart (WMT - Free Report) .
Through its investment in Flipkart, an Indian e-commerce behemoth, Walmart has found itself right at the top of the online retail pecking order in the country, and just as they have here in the U.S., Amazon and Walmart will likely go tit for tat in their efforts to joust for positioning.
But how big is the pie that the two companies are fighting for? Will Indian shoppers even utilize the Hindi platform? What might Amazon or Walmart do in India next?
Check out the show to hear Ryan’s answers to these questions, and more!
As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcasts, and remember to subscribe and leave us a rating!
As always, thanks for listening to the Zacks Tech Talk Tuesday Podcast; we will see you next time!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>