An article that can be found at NBC news, talks about a business, called Webvan that failed as a dot-com online grocery store in 2001. This online grocery store was recently bought by Amazon.com and was redesigned and renamed to AmazonFresh. This story about revising a failed business to instead become a successful one follows several of PosEcon’s assumptions.
One PosEcon assumption says, “Just because it has been done before does not mean that it can’t be done better.” Although, Webvan didn’t become successful, Amazon and Webvan officials were able to learn from their mistakes and create AmazonFresh. They redesigned their warehouse plans to be more efficient (replacing the conveyor belt with several robots – called Kivas). Additionally, they decided that limiting their deliveries to “areas with a high concentration of potential customers” would be beneficial. These changes go along with PosEcon’s assumption “People are always capable of learning more and changing their opinions.” Webvan officials did not give up on their business plan, but instead learned from their mistakes and started working with Amazon officials to redevelop their opinions.
If you would like to read more about this subject, follow this link to the article: http://www.nbcnews.com/technology/ashes-start-amazon-builds-grocery-business-6C10339299