A PYMNTS Company

US: “Sorry, Donald Trump: Amazon Dominates, But It’s No Monopoly” Say Wired

 |  December 8, 2016

During his campaign for president, Donald Trump claimed Amazon was a monopoly he would go after for anti-trust violations if elected. Sure, Trump didn’t like the coverage he was receiving in the Washington Post, which Amazon CEO Jeff Bezos owns. But even just judging by the latest holiday sales numbers, Amazon so decisively dominates online shopping that other retail giants can barely compete say Wired. If Trump decided to make good on his promise, should Bezos be worried?

If success alone were against the law, then yes. Online sales covering these five days amounted to nearly $13 billion. That’s 15 percent more than the same period one year ago, according to Adobe Digital Insights. On Black Friday, online shoppers using mobile devices spent more than $1 billion in a day—a first. Meanwhile, the share of retail dollars spent online is growing at the fastest rate ever. Since by some estimates Amazon accounts for half of all online shopping, all these trends certainly mean nothing but good things for Bezos’ balance sheet—both now and for the foreseeable future.

“Once again, Amazon is best positioned to take advantage of the shifts,” says Jason Goldberg, vice president of commerce and content at digital agency Razorfish.

The question is whether that advantage becomes too much of an advantage—if Amazon’s success tilts into something more nefarious that blocks healthy competition. So far, experts say Amazon’s dominance is just that: a company outdoing the competition in capitalism’s grand tradition. But it may be on the verge of becoming the kind of monopoly that Trump’s top techie, Peter Thiel, says all companies should strive to be: “the kind of company that is so good at what it does that no other firm can offer a close substitute.”

Full Content: Wired

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