Virtual Reality with Platform-wide Currencies?

Amazon have announced that they are launching Amazon Coins in May 2013 to enable customers to buy apps and other digital content more easily in the Amazon Appstore. This sounds very much like Facebook Credits which were short lived and were scrapped last year after less than two years, but only time will tell whether this is a good idea that customers will see as useful and beneficial to them.

I believe Amazon see the launch of their platform-wide currency, despite many similar attempts by others failing, as a way of gaining more brand loyalty and digital sales volume as a result. By creating their own virtual currency instead of offering gift cards or vouchers they are ensuring people buy digital products only and are therefore going to increase Amazon’s high profit-centre digital sales.

This latest move by Amazon shows their key position in online retailing and it will be very interesting to see how Amazon Coins are received by their loyal customer base.

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