Who can beat Amazon?

Founded in 1994, Amazon has experienced strong growth of over 20% per year since then; its revenue now exceeds $100Bn. Its geographical locations have developed at a robust pace and its product offering has expanded as far as to fresh groceries in the US. Its success has been based on technological leadership, competitive prices and outstanding service. Consequently, is there a strategy to bypass Amazon for an Internet player selling products to consumers? What are the possible strategies for Internet players?