The Relative Economic Impact of E-commerce

The Relative Economic Impact of E-commerce
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The Relative Economic Impact of Ecommerce
Amazon is one of the largest eCommerce global industries. The industry started as an online bookstore and now avails over 562 million products on its online website. These products range from fashion and design to intelligent devices used in assisting people in their operations. Through its continued innovations, Amazon has also achieved a prominent presence in sectors such as logistics, data storage, media, and hardware.
Amazon is a perfectly competitive industry because its pricing strategy is the opposite of monopolistic businesses' actions. According to the Sherman Act, in the United States antitrust laws, monopolization refers to a state when an industry or a business organization is powerful enough to control the relevant market prices, and when the business partakes in anticompetitive actions, as opposed to growth due to superior products and business acumen (Vaheesan, 2021). From the description standpoint, amazon has not violated the existing United States antitrust regulations.
The eCommerce industry is a capital-intensive business that invests huge capital amounts into the business annually. Amazon allows direct online consumers to purchase products online, and the industry shipment service then delivers these products. Amazon industry also serves other businesses by allowing interested businesses to have an amazon business account to sell products in bulk (Schleicher et al., 2017). Amazon Web Services has reached an agreement with the Common Wealth of Australia, which allows all federal, state, and regional agencies, state-controlled companies, and public universities to use the AWS cloud service.
Amazon has developed economically over the last ten years. The industry has gained much respect and has given other industries a run for their money. It has gained power and become one of the world's most powerful and feared industries. Its primary business, eCommerce, has greatly increased from an existing enormous base of $34.2 billion (Cavallo, 2018). AWS has grown from an asterisk to the third-largest software business globally. Additionally, cloud computing has developed to be a defining tech business trend over the last ten years.
Amazons' logistics and shipping activities have grown to impenetrable projects that only a few industries will ever have the resources and ability to achieve such levels. Amazon has continued to spend approximately $800 million in just one quarter to avail free daily delivery for its prime clients in the United States (Dolata, 2017). The industry tiptoed into physical retail with its bookstores, then purchased upscale supermarket whole foods in 2017, termed its largest acquisition. Currently, Amazon has also opened up grocery stores chains and convenience stores to avail fresh foodstuffs.
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